H.R. 6061 · In committee · Foreign Trade and International Finance

American Farmers First Act

What it does

Prohibits the Treasury's Exchange Stabilization Fund from providing financial support to Argentina, including currency swaps, peso purchases, and sovereign debt acquisition, through December 10, 2027.
Requires Treasury to sell or terminate any financial contracts with Argentina entered before enactment within seven days.
Directs Treasury to allocate proceeds from terminated Argentina financial contracts to the Department of Agriculture.
Mandates USDA distribute allocated proceeds as one-time payments to crop producers who lost export markets during the 2025 marketing year.

Official summary

American Farmers First Act 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…

Latest action

Jan 13, 2026: Subcommittee on General Farm Commodities, Risk Management, and Credit Discharged

Committee: House General Farm Commodities, Risk Management, and Credit Subcommittee