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EconomyH.R. 6061Not Yet VotedComments

American Farmers First Act

Official title: To prohibit the use of the Exchange Stabilization Fund of the Department of the Treasury to bail out Argentina's financial markets, and to instead use that funding to provide for a farmer tariff relief package.

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How Congress Voted

What Happened in Congress?

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Not yet voted on the floor.

Where the Bill Stands

  1. Introduced, done
  2. Committee, current stage
  3. Floor Vote, not yet
  4. Outcome, not yet

What This Bill Does

This bill prohibits the use of the Exchange Stabilization Fund (ESF) to provide financial support to Argentina and provides one-time economic assistance payments to certain crop producers. (The ESF is an emergency reserve fund of the Department of the Treasury, originally used for the purpose of maintaining the fixed dollar exchange rate. In October 2025, Treasury announced U.S. financial support for Argentina, including a $20 billion currency swap line financed through the ESF.)

Specifically, the bill prohibits the use of the ESF to provide direct or indirect financial support to Argentina, including through the establishment of currency swap lines, the purchase of pesos or sovereign debt of Argentina, or the extension of any credit instrument. This prohibition terminates on December 10, 2027.

Any financial contract or instrument that was entered into before the bill's enactment and violates the prohibition must be sold or terminated within seven days of the bill's enactment.

Treasury must allocate to the Department of Agriculture (USDA) the proceeds from the sale or termination of financial contracts or instruments pursuant to the bill. USDA must then use the allocated proceeds to make one-time economic assistance payments to producers of each crop adversely impacted by loss of export markets during the 2025 marketing year for such crop, as determined by USDA.

Sponsors

Related Documents

Bill on Congress.govWeb Page ↗ (opens in a new tab)

Timeline

  1. House committee actionsSubcommittee on General Farm Commodities, Risk Management, and Credit Discharged
  2. House committee actionsReferred to the Subcommittee on General Farm Commodities, Risk Management, and Credit.
  3. Library of CongressSponsor introductory remarks on measure. (CR H4782)
  4. Library of CongressIntroduced in House
  5. House floor actionsReferred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
  6. Introduced
  7. Committee

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