American Farmers First Act

Bill Number: H.R. 6061
Origin Chamber: House
Congress: 119th Congress, Session 1
Policy Area: Foreign Trade and International Finance
Status: Introduced
Latest Action: 2026-01-13: Subcommittee on General Farm Commodities, Risk Management, and Credit Discharged
Last Updated: 2026-06-02T13:08:02Z

AI-Generated Summary

Purpose

The "American Farmers Act" (H.R. 6061) aims to prevent the U.S. Department of the Treasury from using the Exchange Stabilization Fund (ESF)—a reserve fund for stabilizing the U.S. dollar and international exchange rates—to provide financial support to Argentina's economy. Instead, it redirects any related funds to offer economic relief to U.S. farmers affected by lost export markets.

Key Provisions

Prohibition on ESF Use for Argentina: Amends existing U.S. law (31 U.S.C. § 5302(b)) to ban the ESF from offering direct or indirect financial aid to Argentina, such as currency swap agreements (temporary exchanges of currencies between central banks), purchases of Argentine pesos or government debt, or any form of credit extension. This ban lasts until December 10, 2027.
Handling Existing Agreements: Any pre-existing financial deals with Argentina that violate the new ban must be sold or ended within 7 days of the bill's enactment.
Farmer Relief Program: Proceeds from selling or terminating these agreements are transferred from the Treasury Secretary to the Agriculture Secretary. These funds will provide one-time payments to U.S. crop producers harmed by reduced export opportunities during the 2025 marketing year (the period when a crop is harvested and sold), as determined by the Agriculture Department.

Significant Changes to Existing Law

Adds a specific, time-limited restriction to the ESF's usage rules, which previously allowed broad discretion for the Treasury to intervene in international financial markets without country-specific prohibitions.
Introduces a mandatory reallocation mechanism, requiring ESF proceeds to fund domestic agricultural aid rather than foreign support, marking a shift toward prioritizing U.S. domestic interests in fund deployment.

Potential Impacts

Government Agencies: The Treasury Department loses flexibility in using the ESF for international dealings, potentially complicating U.S. financial diplomacy. The Agriculture Department gains new funding for relief programs, easing administrative burdens on existing farmer aid initiatives.
Citizens: U.S. farmers, particularly those exporting crops like soybeans or corn to markets affected by trade disruptions (e.g., tariffs or barriers), could receive direct financial help to offset losses, improving short-term economic stability for rural communities.
International Relations: May strain U.S.-Argentina ties by blocking potential financial lifelines during Argentina's economic challenges, signaling a more protectionist U.S. stance on foreign aid and possibly influencing broader Latin American relations or global financial cooperation.

Main Stakeholders Affected

U.S. Farmers and Agricultural Producers: Primary beneficiaries through targeted relief payments for export-related losses.
U.S. Department of the Treasury: Restricted in ESF operations, with obligations to terminate agreements and redirect funds.
U.S. Department of Agriculture: Responsible for distributing aid, expanding its role in economic relief.
Government of Argentina: Loses access to potential U.S. financial support, impacting its ability to stabilize markets.
U.S. Taxpayers and Congress: Indirectly affected, as the bill reallocates public funds from international to domestic use without increasing spending.

Notable Legal, Constitutional, or Political Implications

Legal: The amendment to 31 U.S.C. § 5302(b) is straightforward but could face challenges if viewed as retroactively interfering with executive agreements; the 7-day termination clause might raise contract law issues regarding abrupt endings of international deals.
Constitutional: Aligns with Congress's power of the purse (Article I, Section 9) to control federal spending, reinforcing legislative oversight of executive financial actions without directly infringing on foreign affairs powers.
Political: Highlights bipartisan support for American agriculture amid trade tensions (introduced by a mix of Republicans and Democrats), potentially boosting rural voter appeal but risking criticism for isolating U.S. policy from global economic interdependence. The bill's referral to Financial Services and Agriculture Committees underscores its dual focus on finance and farming policy.

This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.

Sponsor

Rep. McClain Delaney, April [D-MD-6]

Cosponsors (8)

Rep. Houlahan, Chrissy [D-PA-6], Rep. Ivey, Glenn [D-MD-4], Rep. Stevens, Haley M. [D-MI-11], Rep. Salinas, Andrea [D-OR-6], Rep. Riley, Josh [D-NY-19], Rep. Mannion, John W. [D-NY-22], Rep. Mfume, Kweisi [D-MD-7], Rep. Pocan, Mark [D-WI-2]

Recent Actions

2026-01-13: Subcommittee on General Farm Commodities, Risk Management, and Credit Discharged
2025-12-05: Referred to the Subcommittee on General Farm Commodities, Risk Management, and Credit.
2025-11-19: Sponsor introductory remarks on measure. (CR H4782)
2025-11-17: 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.
2025-11-17: 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.
2025-11-17: Introduced in House
2025-11-17: Introduced in House

Bill Versions

American Farmers First Act — issued 2025-11-17 — PDF (3 pages)