IMF Loans. During consideration of a bill on executive branch nominations (S. 679), Sen. Jim DeMint (R-S.C.) introduced an amendment to repeal the authority to provide certain loans to the International Monetary Fund, and to rescind up to $108 billion previously appropriated for the IMF. The IMF is an adjunct of the United Nations and grants foreign aid to qualifying countries.
The Senate rejected the DeMint amendment on June 29, 2011 by a vote of 44 to 55 (Roll Call 99). We have assigned pluses to the yeas because there is no authority in the U.S. Constitution for redistributing American wealth to other countries.
