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HR 13 - The Mulligan Act


Steven Andrews
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This Act:
-Provides $50 billion which is to be used in assisting countries which are unable to pay off debts to the People's Republic of China (PRC) (or unable to do so without selling off strategic national resources or assets) in paying off those debts.  This assistance shall come in the form of direct grants or long-term dollar-denominated loans, with a rate not to exceed that of the relevant Treasury bills/bonds, at the discretion of the State Department.
-In return for this assistance, a share in the project(s) which were funded by the PRC loans may be negotiated (with the share to, ideally, be in line with the share of the funding that came from the PRC), if grants are being used.
--In plain language, countries can decide on a "grant for a share in the project China built" or "30-year loan at 30-year Treasury rates".
-Such repayment assistance will come with a condition that the countries in question do not accept future loans from the PRC or PRC-controlled banks.  It will also come with a condition that the asset(s) in question not be sold off to buyers "considered hostile to the United States" (essentially enabling the US to take a "golden share" in the assets, but not taking any active control beyond such a veto).
-Global assistance will be provided for hiring consultants (from an approved list) for future major projects, to assist in cost-benefit analysis for future major projects being funded or promoted by the government of the PRC.  $500 million is to be provided for this.  Such support may be requested by the government of a country, or by major opposition parties.  The assistance will be provided directly in the form of the consulting contract, not in cash terms [basically, they can pick the consultant from the list but we pay them and the consultant provides the report].

Andrew Byrd (and family), Virginia

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On 12/10/2021 at 2:55 AM, Steven Andrews said:

 

This Act:
-Provides $50 billion which is to be used in assisting countries which are unable to pay off debts to the People's Republic of China (PRC) (or unable to do so without selling off strategic national resources or assets) in paying off those debts.  This assistance shall come in the form of direct grants or long-term dollar-denominated loans, with a rate not to exceed that of the relevant Treasury bills/bonds, at the discretion of the State Department.
-In return for this assistance, a share in the project(s) which were funded by the PRC loans may be negotiated (with the share to, ideally, be in line with the share of the funding that came from the PRC), if grants are being used.
--In plain language, countries can decide on a "grant for a share in the project China built" or "30-year loan at 30-year Treasury rates".
-Such repayment assistance will come with a condition that the countries in question do not accept future loans from the PRC or PRC-controlled banks.  It will also come with a condition that the asset(s) in question not be sold off to buyers "considered hostile to the United States" (essentially enabling the US to take a "golden share" in the assets, but not taking any active control beyond such a veto).
-Global assistance will be provided for hiring consultants (from an approved list) for future major projects, to assist in cost-benefit analysis for future major projects being funded or promoted by the government of the PRC.  $500 million is to be provided for this.  Such support may be requested by the government of a country, or by major opposition parties.  The assistance will be provided directly in the form of the consulting contract, not in cash terms [basically, they can pick the consultant from the list but we pay them and the consultant provides the report].

Nancy Pelosi

The House is called to order to debate the legislation for no less than 96 hours (not including the game pause on December 25th). 

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On 12/10/2021 at 2:55 AM, Steven Andrews said:

 

This Act:
-Provides $50 billion which is to be used in assisting countries which are unable to pay off debts to the People's Republic of China (PRC) (or unable to do so without selling off strategic national resources or assets) in paying off those debts.  This assistance shall come in the form of direct grants or long-term dollar-denominated loans, with a rate not to exceed that of the relevant Treasury bills/bonds, at the discretion of the State Department.
-In return for this assistance, a share in the project(s) which were funded by the PRC loans may be negotiated (with the share to, ideally, be in line with the share of the funding that came from the PRC), if grants are being used.
--In plain language, countries can decide on a "grant for a share in the project China built" or "30-year loan at 30-year Treasury rates".
-Such repayment assistance will come with a condition that the countries in question do not accept future loans from the PRC or PRC-controlled banks.  It will also come with a condition that the asset(s) in question not be sold off to buyers "considered hostile to the United States" (essentially enabling the US to take a "golden share" in the assets, but not taking any active control beyond such a veto).
-Global assistance will be provided for hiring consultants (from an approved list) for future major projects, to assist in cost-benefit analysis for future major projects being funded or promoted by the government of the PRC.  $500 million is to be provided for this.  Such support may be requested by the government of a country, or by major opposition parties.  The assistance will be provided directly in the form of the consulting contract, not in cash terms [basically, they can pick the consultant from the list but we pay them and the consultant provides the report].

Nancy Pelosi

The House is called to order to vote on the bill for no more than 144 hours. 

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Voting Bloc Total Aye Nay Present
Nationalist Republicans 51 32 18 0
Evangelical Republicans 51 39 11 0
Business Republicans 51 39 11 0
Moderate Conservative Republicans 50 44 5 0
Moderate Liberal Republicans 10 5 4 0
SJW Democrats 52 0 52 0
Progressive Democrats 52 0 52 0
Environmentalist Democrats 52 0 52 0
Moderate Liberal Democrats 52 0 52 0
Moderate Conservative Democrats 14 3 10 0
  162 267 0
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