HR-6061 — American Farmers First Act

YourVoice.Now Summary

Average Household ImpactTransparency & Accountability

Bars Treasury from backing Argentina's markets and sends the unwound money to farmers who lost 2025 export sales.

Average Household Impact

One-time payments to affected farmers — Funded by unwinding Argentina-related positions

Transparency & Accountability

Treasury discretion over the Exchange Stabilization Fund — Argentina support barred
Duration of the prohibition — Expires December 10, 2027

The details

Treasury's Exchange Stabilization Fund could not be used to support Argentina's financial markets. The ban covers currency swap lines, buying pesos or Argentine government debt, and extending any credit. Contracts already in place that violate it would have to be sold or ended within seven days of enactment. The prohibition expires December 10, 2027. Money raised from unwinding those contracts would go to the Agriculture Department. USDA would use it for one-time payments to farmers who grew crops hurt by the loss of export markets during the 2025 marketing year.

Congressional Summary

American Farmers First ActThis 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.

Legislative Subjects

Agricultural prices, subsidies, creditArgentinaCurrencyForeign loans and debtInternational monetary system and foreign exchangeLatin AmericaTrade adjustment assistance

Details

Congress: 119th
Chamber: House
Status: summarized
Action: Introduced in House
Action Date: 2025-11-17
Date Added: 2026-08-05
Source: Congress.gov →

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