American Farmers First Act
Sponsored By: Representative McClain Delaney, April [D-MD-6]
Introduced
Summary
Stops the Treasury's Exchange Stabilization Fund from providing direct or indirect financial support to Argentina. The bill would also convert any ESF contracts ended under that ban into funding for a Farmer Economic Relief Program that makes one-time payments to crop producers harmed by lost export markets in the 2025 marketing year.
Show full summary
- Farmers: Producers of each crop that loses export markets in 2025 would be eligible for a one-time assistance payment funded by proceeds from sold or terminated ESF contracts.
- Treasury operations: The Department of the Treasury could not use the ESF for currency swap lines, buying Argentine pesos or sovereign debt, or extending credit to Argentina. Any existing contracts that violate the ban must be sold or terminated within 7 days of enactment.
- Timing: The prohibition ends on Dec. 10, 2027, so the restriction is temporary.
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
One-time relief payments for farmers
If enacted, the Treasury would send certain proceeds to the Department of Agriculture. USDA would use that money for one-time payments to crop producers. Payments would go to producers of crops that lost export markets in the 2025 marketing year, as USDA determines. The bill sets no dollar amounts or formulas, and payments would be limited to the available proceeds.
Ban on Treasury support to Argentina
If enacted, Treasury would be barred from using the Exchange Stabilization Fund to support Argentina. This would include swap lines, buying pesos or Argentine sovereign debt, or any credit instrument. Any violating contracts made before enactment would have to be sold or ended within 7 days. The ban would end on December 10, 2027.
Sponsors & CoSponsors
Sponsor
McClain Delaney, April [D-MD-6]
MD • D
Cosponsors
Rep. Houlahan, Chrissy [D-PA-6]
PA • D
Sponsored 11/17/2025
Ivey
MD • D
Sponsored 11/17/2025
Rep. Stevens, Haley M. [D-MI-11]
MI • D
Sponsored 11/17/2025
Rep. Salinas, Andrea [D-OR-6]
OR • D
Sponsored 11/17/2025
Riley (NY)
NY • D
Sponsored 11/18/2025
Mannion
NY • D
Sponsored 11/18/2025
Mfume
MD • D
Sponsored 11/19/2025
Rep. Pocan, Mark [D-WI-2]
WI • D
Sponsored 12/9/2025
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov