Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, announced key victories that Committee Democrats successfully secured in H.R.7148, the “Consolidated Appropriations Act, 2026.” The legislation authorizes federal funding for government departments, agencies, and programs through the fiscal year ending September 30, 2026. The bill includes several priorities of Democratic Members of the Financial Services Committee, including Congresswoman Nikema Williams (D-GA), that Waters championed as Ranking Member of the Committee.
Waters worked closely with members on her committee and several other committees, in both the House and the Senate and on both sides of the aisle, to secure certain priorities in the final funding measure. Waters successfully included text in the final FY2026 funding measure that is substantially similar to Democratic-led FSC bills, as well as provisions drawn from other FSC legislation, including highlights such as:
H.R. 1764, the “Aligning SEC Regulations for the World Bank’s International Development Association Act” is a bill offered by Ranking Member Maxine Waters (D-CA). This bill exempts the International Development Association (IDA), the concessional lending arm of the World Bank, from Securities and Exchange Commission registration requirements—bringing it in line with other arms of the World Bank and Multilateral Development Banks that have long enjoyed similar exemptions, while also helping to support IDA’s ability to provide more concessional lending to the world’s poorest countries.
H.R. 4423, the “No New Burma Funds Act” is a bill offered by Representative Nikema Williams (D-GA). This bill requires Treasury to press the International Bank for Reconstruction and Development (IBRD), an arm of the World Bank, to continue its pauses on disbursing money to Burma and making new financing commitments to Burma’s government.
H.R. 3224, the “International Financial Institution Improvements Act of 2025” is a bill offered by Ranking Member Maxine Waters (D-CA). The bill enhances the operations and accountability of the international financial institutions, strengthens support for low-income countries, and promotes human rights and environmental standards in global financial projects. A handful of provisions from this bill were adopted, including:
Much delayed support for the United States' portion of the European Bank for Reconstruction and Development capital increase, allowing America to continue in our leadership role as the EBRD prepares to double its Ukraine investments once reconstruction begins and launch its first investments in Sub-Saharan Africa.
Funding for the U.S. shares in the African Development Bank (AfDB), which provides non-concessional (market-rate financial assistance) to middle-income countries in the region. This funding will also help to restore the credit rating of this institution.
Authorization and funding for America's part in IDA21, the International Development Association's 21st replenishment, is an essential step to support the IDA's efforts in addressing the needs of the world's poorest countries. This pledge by the United States will help to unlock $100 billion for low-income country lending and ensure that IDA can provide the necessary support to countries with the greatest need.
Authorization and funding for the Asian Development Bank's (ADB) 13th Replenishment, which is the ADB's largest source of grants for operations in its poorest and most vulnerable developing members, especially to reverse recent development setbacks and take urgent action to combat the climate crisis.
Support for the World Bank’s "IDB Invest" program, which is the private sector arm of the Inter-American Development Bank (IDB), focused on promoting sustainable economic growth in Latin America and the Caribbean through financing and advisory services.
