Senator Rick Scott (R-FL) joined forces with Senator John Kennedy (R-LA) and several Republican colleagues to introduce the No Dollars for Dictators Act, legislation designed to prevent U.S. taxpayer money from reaching hostile regimes through allocations made by the International Monetary Fund (IMF).
The bill, co-sponsored by Senators Marsha Blackburn (R-TN), Jim Justice (R-WV), John Barrasso (R-WY), and Chuck Grassley (R-IA), aims to block funds distributed through the IMF’s Special Drawing Rights (SDRs) from going to adversarial nations, including China, Iran, Venezuela, Russia, and Syria.
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“American taxpayers want their dollars to work in their best interests, not financially supporting dictators of dangerous and adversarial regimes,” said Sen. Scott in a statement. “The No Dollars for Dictators Act will protect U.S. tax dollars from fueling the evils of dictators or terrorists who seek to destroy our way of life.”
Special Drawing Rights are international reserve assets allocated by the IMF to member countries to bolster their foreign exchange reserves. The Biden administration faced criticism in 2021 for supporting a $650 billion global allocation of SDRs, which distributed billions to all IMF members — including authoritarian regimes — based on their shareholdings, not political alignment or human rights records.
Republicans blasted the move at the time, arguing it effectively handed taxpayer-backed financial relief to countries that oppose the United States, including China and Iran, without congressional oversight.
“The Biden administration allowed China, Russia, Iran and Syria to collect billions of dollars from the IMF without ever consulting Congress,” said Sen. Kennedy. “My bill would ensure that Congress has a say before the IMF doles out American tax dollars to countries that hate us.”
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Supporters of the bill argue it reasserts congressional authority over U.S. financial contributions to global institutions and ensures that U.S. dollars cannot be used to support governments with track records of repression, terrorism, or antagonism toward the West.
“The Biden-Harris administration bypassed Congress and allocated unauthorized funds to oppressive nations,” said Sen. Blackburn. “This legislation would prevent taxpayer money from supporting dictators under future administrations.”
Sen. Jim Justice added, “Our enemies should not benefit from U.S. taxpayers, especially when they undermine our nation’s security.”
The proposed legislation aligns with President Trump’s broader foreign policy doctrine in his second term, which has emphasized “America First” accountability for international spending and a hardline stance toward adversaries.
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