H.R. 1704 · 118th Congress
Latin America and Caribbean Nearshoring Act
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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GreenSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill provides assistance to Latin American and Caribbean countries (generally excluding Cuba and Venezuela) to strengthen their critical mineral and energy supply chains, promote economic development, and advance good governance.
What it does: CRS summary · Introduced in House · Mar 22, 2023
Latin America and Caribbean Nearshoring Act
This bill provides assistance to Latin American and Caribbean countries (generally excluding Cuba and Venezuela) to strengthen their critical mineral and energy supply chains, promote economic development, and advance good governance.
The bill requires the U.S. International Development Finance Corporation to provide loans, equity investments, insurance, and other assistance to support the efforts of eligible countries to secure their critical mineral and energy supply chains from the control and influence of China. The corporation must also provide this assistance for other purposes such as promoting private sector long-term economic development, advancing good governance, and encouraging investment in energy infrastructure and critical mineral mining.
The bill also authorizes the President to sell nuclear reactors to these countries if such a sale will not threaten U.S. national security and if certain other conditions are met (such as the purchasing country taking steps to reduce economic dependence on China).
Cuba and Venezuela shall be ineligible for assistance under this bill until the Department of State certifies to Congress that the relevant country's government has taken certain actions, such as (1) holding free and fair elections, (2) upholding human rights, and (3) taking significant steps to privatize its economy.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Latin America and Caribbean Nearshoring Act
Latest action (Mar 22, 2023): Referred to the House Committee on Foreign Affairs.
Policy area: International Affairs · Origin: House · Introduced: Mar 22, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.