The Treasury Department would have to direct U.S. representatives at international financial institutions, like the World Bank, to vote against and oppose any loans or funding for shrimp farming, processing, or exporting in other countries. Domestic shrimp producers, who compete with heavily-financed foreign shrimp operations, are the intended beneficiaries of this restriction on international financing. The Treasury Secretary could waive this opposition for a specific project by notifying Congress that doing so serves the national interest. This voice-and-vote requirement would automatically end seven years after the bill becomes law unless Congress acts again. The change affects U.S. shrimp fishers and processors, as well as shrimp farmers and exporters in developing countries who rely on financing from these institutions.
Corporate Benefits
- Market-shielding for domestic shrimp industry — U.S. votes against IFI financing for foreign shrimp farming, processing, or exports
Transparency & Accountability
- Waiver notification requirement — Treasury must notify Congress before waiving opposition to a shrimp-financing project
- Sunset clause — Opposition requirement expires automatically after 7 years unless renewed
Congressional Summary
Save Our Shrimpers ActThis bill requires the Department of the Treasury to instruct U.S. leadership of international financial institutions (e.g., the International Monetary Fund and the World Bank) to oppose providing financial assistance for any project to support shrimp farming, shrimp processing, or the export of shrimp in a borrowing country.Treasury may waive this requirement with respect to a project upon notifying Congress that the waiver is in the national interest of the United States.The requirement expires seven years after the enactment of this bill.
Details
- Congress
- 119th
- Chamber
- Senate
- Status
- summarized
- Action
- Introduced in Senate
- Action Date
- 2026-06-23
- Date Added
- 2026-07-10
- Source
- Congress.gov →
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