Protecting Taxpayers from Risky Investments in Venezuela Act

# Protecting Taxpayers from Risky Investments in Venezuela Act (HR 7038) **What the Bill Does:** This bill would restrict certain U.S. government investments and financial dealings with Venezuela. Specifically, it aims to prevent federal agencies and government-backed financial institutions from investing taxpayer money in Venezuelan ventures or companies with significant Venezuelan connections. The legislation is designed to protect American taxpayers from potential financial losses by limiting exposure to Venezuela's economy, which has experienced significant instability in recent years. **Who It Affects:** The bill would primarily affect federal agencies that manage investment portfolios, government-sponsored enterprises like the Export-Import Bank, and pension funds for federal employees.

Indirectly, it could impact American companies doing business in Venezuela or with Venezuelan entities, as well as investors seeking U.S. government financing for Venezuelan projects. **Current Status:** As of now, HR 7038 remains in committee and has not advanced to a full floor vote in the House. The bill was introduced by Representative Mike Levin (D-CA) but has not yet been scheduled for consideration, meaning it is still in the early stages of the legislative process.