H.R. 6061 · 119th Congress
American Farmers First Act
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D
McClain DelaneySponsor8 cosponsors · 8 D
4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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.
What it does: CRS summary · Introduced in House · Nov 17, 2025
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: American Farmers First Act
Latest action (Jan 13, 2026): Subcommittee on General Farm Commodities, Risk Management, and Credit Discharged
Policy area: Foreign Trade and International Finance · Origin: House · Introduced: Nov 17, 2025
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.