American Farmers First Act

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 use the allocated proceeds to make one-time economic assistance payments to producers of each crop adversely impacted by loss of export markets during the 2025 marketing year for such crop, as determined by USDA.

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Timeline

1. 17 November 2025

   Introduced

   Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 17 November 2025

   Introduced

   Introduced in House

   Source: IntroReferral

3. 17 November 2025

   Introduced

   Introduced in House

   Source: IntroReferral

4. 19 November 2025

   Introduced

   Sponsor introductory remarks on measure. (CR H4782)

   Source: IntroReferral

5. 5 December 2025

   Referred

   Referred to the Subcommittee on General Farm Commodities, Risk Management, and Credit.

   Source: Committee

6. 13 January 2026

   Committee

   Subcommittee on General Farm Commodities, Risk Management, and Credit Discharged

   Source: Committee

Votes

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Versions

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Documents

2 official files

• Introduced in House

  Introduced in House · EN · 17 November 2025

  DownloadOpen at official source

• Introduced in House

  summary · EN · 17 November 2025

  Open at official source

Sponsors

• April McClain Delaney · D · Sponsor
• Chrissy Houlahan · D · Sponsor
• Glenn Ivey · D · Sponsor
• Haley Stevens · D · Sponsor
• Andrea Salinas · D · Sponsor
• Josh Riley · D · Cosponsor
• John Mannion · D · Cosponsor
• Kweisi Mfume · D · Cosponsor
• Mark Pocan · D · Cosponsor
• · hsag00 · Standing
• · hsba00 · Standing

Related records

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