Calling for the annulment of the Monroe Doctrine and the development of a "New Good Neighbor" policy in order to foster improved relations and deeper, more effective cooperation between the United States and its Latin American and Caribbean neighbors.

This resolution says the Department of State should officially declare that the Monroe Doctrine is no longer part of how the U.S. deals with Latin American and Caribbean countries. Instead, it calls for a new policy focused on building better relationships and working more closely with countries in the Western Hemisphere. This new approach would include respecting other countries' own plans for economic growth, working with Latin American and Caribbean governments to reform the Organization of American States, and ending all one-sided economic sanctions while giving Congress more power to oversee when such sanctions are used.

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