Save Our Shrimpers Act
Save Our Shrimpers Act
Plain Language Summary
# Save Our Shrimpers Act (HR 2071) Summary **What It Does:** This bill would prevent U.S. federal funds from going to international financial institutions (like the International Monetary Fund) if those institutions use the money to finance foreign shrimp farming, processing, or export operations. It also requires the Treasury Department to submit annual reports tracking whether U.S. officials at these institutions are following policies against financing certain surplus commodities. **Who It Affects:** The bill primarily impacts the U.S. shrimp industry and foreign shrimp producers.
American shrimpers would benefit from reduced international competition funded by U.S. dollars, while foreign shrimp operations—particularly in countries that receive financing from international institutions—could face reduced access to funding. Taxpayers would also be indirectly affected as it controls how their federal dollars are used overseas. **Current Status:** The bill is currently in committee and has not yet been voted on by the full House. It was introduced by Representative Troy Nehls (R-TX) in the 119th Congress. This means it's still in the early stages of the legislative process and would need committee approval and a full House vote before potentially moving to the Senate.
CRS Official Summary
Save Our Shrimpers ActThis bill prohibits federal funds from being made available to international financial institutions (e.g., the International Monetary Fund) for financing activities related to foreign shrimp farms. The bill also requires an annual report on compliance by U.S. leadership of international financial institutions with policies to oppose financing for certain commodities or minerals.Specifically, the bill requires the Department of the Treasury to condition any provision of federal funds to an international financial institution on the requirement that the funds not be used to finance any activity related to shrimp farming, shrimp processing, or the export of shrimp in any foreign country.Under current law, Treasury must instruct U.S. leadership of international financial institutions to oppose providing financial assistance for the production or extraction of any commodity or mineral for export if (1) the commodity or mineral is in surplus on world markets, and (2) the export of such commodity or mineral will cause substantial injury to U.S. producers of a competing commodity or mineral (or of the same or a similar commodity or mineral). This bill requires the Government Accountability Office to investigate and annually report to Congress on the extent to which U.S. leadership at these institutions have carried out Treasury's instructions.
Latest Action
Ordered to be Reported by the Yeas and Nays: 42 - 1.