By Jay Heflin - 05/17/10 06:28 PM EDT
Pence recently joined with several fellow Republicans to introduce legislation that blocks U.S. tax dollars from being used by the International Monetary Fund (IMF) to bail out European countries.
The bill, titled the European Bailout Protection Act, prohibits any funds that have been drawn by the IMF from financing a European Union bailout until all EU nations are in compliance with their debt-to-GDP-ration requirement. It also requires the Treasury secretary to oppose any IMF loans until all EU countries abide by the aforementioned ratio.
Under these requirements, the United States would be prohibited from participating in the bailouts recently proposed by the EU.