American Manufacturers over Argentine Bailouts Act
Sponsored By: Representative Stevens
Introduced
Summary
$20.0 billion tariff relief for U.S. small and medium manufacturers. This bill would create a temporary program to reimburse small and medium manufacturers for tariff-related financial harm tied to tariffs imposed between Jan. 20, 2025 and Jan. 20, 2029, and it would bar Treasury support to Argentina from the same fund.
Show full summary
- Eligible U.S. small and medium manufacturers that employ fewer than 500 people and source at least 50 percent of steel or aluminum inputs domestically could apply for payments equal to the tariff-related harm they report.
- The Treasury Secretary would set up an application process, accept submissions describing the U.S.-made good, the foreign inputs subject to tariffs, and the harm suffered, and may issue guidance or regulations to run the program.
- The bill would prohibit the Secretary from providing direct or indirect financial support to Argentina from funds designated under 31 U.S.C. 5302, and ties that prohibition to implementation pursuant to the President's direction.
*Authorizes at least $20.0 billion in financial assistance drawn from the Treasury stabilization fund for the tariff relief program.*
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 1 benefits, 0 costs, 1 mixed.
Tariff relief for small manufacturers
If enacted, Treasury would run a temporary relief program for small and mid-size manufacturers. You could apply if you are U.S.-based and have fewer than 500 employees. You must source at least 50% of steel or aluminum inputs from U.S. suppliers and use no inputs from a foreign entity of concern. Help would cover harm from tariffs on foreign inputs set by the President between January 20, 2025 and January 20, 2029. You would submit an application describing your product, the tariffed inputs, and your financial loss. Treasury would pay support equal to the harm you document, using at least $20 billion from the Exchange Stabilization Fund.
Treasury barred from aiding Argentina
If enacted, Treasury would be barred from giving Argentina money or other support from the Exchange Stabilization Fund. The ban would cover direct and indirect aid. It would start on enactment and be carried out as directed by the President.
Sponsors & CoSponsors
Sponsor
Stevens
MI • D
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
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