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119-s-3621119th Congress

Protecting Taxpayers from Risky Investments in Venezuela Act

Sponsored By: Senator Merkley, Jeff [D-OR]

Introduced

Summary

Blocks U.S. government funds from supporting Venezuela's oil sector. It would ban U.S. funds and official advocacy that finance, insure, guarantee, or otherwise support the development, maintenance, or expansion of oil infrastructure in Venezuela.

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  • Federal departments and agencies would be barred from using any appropriated or otherwise available U.S. funds to finance, subsidize, insure, guarantee, contract for, or otherwise support Venezuela's oil infrastructure.
  • U.S. officials would be prohibited from advocating, promoting, or otherwise supporting Venezuela's petroleum sector at international financial institutions, multilateral organizations, or diplomatic forums.
  • U.S. funds could not be used to purchase real property, provide insurance, offer loan guarantees, grant tax incentives or royalty relief, or make payments to individuals or corporations tied to Venezuela's oil sector.
  • The Secretary of State would have to report to six congressional committees within 180 days and annually after that, describing any related expenditures or activities and certifying compliance.

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 2 benefits, 0 costs, 0 mixed.

Annual State Department reporting on Venezuela oil

If enacted, the Secretary of State would have to send a report to six congressional committees within 180 days and then every year. Each report would describe any expenditures or activities tied to Venezuela's oil infrastructure or petroleum sector. The Secretary would also have to certify whether those activities comply with the ban in this bill. This creates ongoing congressional oversight but does not itself appropriate funds or change benefits for individuals.

Ban on U.S. support for Venezuelan oil

If enacted, federal agencies and any U.S.-controlled accounts would not be able to use funds to support Venezuela's oil sector. This would bar financing, subsidies, insurance, guarantees, contracts, or other support for building, repairing, or improving oil or gas infrastructure in Venezuela. It would also ban buying real property (including reimbursements), paying individuals or companies, and providing insurance costs, loan guarantees, tax incentives, or royalty relief. The bill would stop U.S. officers from promoting Venezuela's oil projects at international banks, multilateral organizations, or diplomatic forums. The prohibition would not apply to spending that Congress explicitly authorizes after enactment.

Sponsors & CoSponsors

Sponsor

Merkley, Jeff [D-OR]

OR • D

Cosponsors

  • Sen. Kaine, Tim [D-VA]

    VA • D

    Sponsored 1/13/2026

  • Sen. Sanders, Bernard [I-VT]

    VT • I

    Sponsored 1/13/2026

  • Sen. Wyden, Ron [D-OR]

    OR • D

    Sponsored 1/13/2026

  • Sen. Van Hollen, Chris [D-MD]

    MD • D

    Sponsored 1/13/2026

  • Sen. Alsobrooks, Angela D. [D-MD]

    MD • D

    Sponsored 1/13/2026

  • Sen. Welch, Peter [D-VT]

    VT • D

    Sponsored 1/13/2026

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
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