Save Our Shrimpers Act
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The bill would direct U.S. representatives at international financial institutions like the World Bank and International Monetary Fund to use their vote to oppose loans or assistance for foreign shrimp farming, processing, or export.
The requirement would last seven years unless the Treasury Secretary waives it for a specific project after notifying Congress, aiming to shield the U.S. shrimp industry from foreign competition backed by international lending.
What this bill would do
What it would do
The bill would require the Secretary of the Treasury to instruct the United States Executive Director at each international financial institution — such as the World Bank and International Monetary Fund — to use the United States' voice and vote to oppose any financial assistance those institutions provide for shrimp farming, shrimp processing, or shrimp exports in borrowing countries. The Treasury Secretary could waive this opposition requirement for a particular project by notifying Congress that doing so serves the national interest. The requirement would automatically expire seven years after the bill's enactment. The bill does not restrict private financing, U.S. domestic shrimp policy, or bilateral aid outside these multilateral institutions.
Key provisions
- 1Would require Treasury to instruct U.S. Executive Directors at international financial institutions to oppose financing for foreign shrimp farming, processing, or export
- 2Would allow the Treasury Secretary to waive the opposition requirement for a specific project after notifying Congress it serves the national interest
- 3Would sunset the opposition requirement seven years after the bill's enactment
Who would be affected
U.S. Executive Directors and the Treasury Department, which would have to issue and track these voting instructions; international financial institutions like the World Bank and IMF considering shrimp-related loans; foreign borrowing countries seeking financing for shrimp industries; and the domestic U.S. shrimp fishing and processing industry that competes with foreign shrimp producers.
Why it matters
By directing U.S. representatives to oppose multilateral financing for foreign shrimp production, the bill could make it harder for foreign shrimp industries to secure international-institution-backed loans, potentially benefiting U.S. shrimpers who compete against imported shrimp. The waiver option preserves flexibility for cases where opposing a project would conflict with broader U.S. interests.
What would change
Changes to existing law
Amends International Financial Institutions Act (Sec. 2(a))
Uses the Act's definition of 'international financial institution' and adds a new instruction requiring U.S. directors to oppose shrimp-related financing
Agencies directed to act
Effective dates
- The requirement to oppose shrimp-related financing expires
Funding and costs
Congressional Budget Office estimate
CBO estimates H.R. 2071 would cost less than $500,000 over the 2026–2036 period, with no effect on direct spending, revenues, or the deficit.
H.R. 2071 would require U.S. executive directors at international financial institutions — such as the International Monetary Fund and the World Bank — to oppose those institutions extending financial assistance to foreign countries for shrimp farming, processing, or exporting; the requirement would expire seven years after enactment. CBO estimates the diplomatic advocacy required by the bill would cost less than $500,000 over the 2026–2036 period, subject to the availability of appropriated funds (discretionary spending that Congress must separately provide). The bill would have no effect on direct (mandatory) spending, revenues, or the deficit, and CBO found no intergovernmental or private-sector mandates.
How implementation would work
The Treasury Secretary would issue standing instructions to each U.S. Executive Director at institutions like the World Bank and IMF to vote against shrimp-related financing proposals as they arise. If Treasury wants an exception, the Secretary would need to formally notify Congress that a waiver serves the national interest before that project could proceed without opposition. The instruction would remain in force for seven years from enactment, after which it lapses unless separately extended or renewed by Congress.
Legislative status & sources
Latest action
Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
Official CRS summary
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This bill prohibits federal funds from being made available to international financial institutions (e.g., the International Monetary Fund) for financing activities related to foreign shrimp farms. The bill also requires an annual report on compliance by U.S. leadership of international financial institutions with policies to oppose financing for certain commodities or minerals.
Specifically, the bill requires the Department of the Treasury to condition any provision of federal funds to an international financial institution on the requirement that the funds not be used to finance any activity related to shrimp farming, shrimp processing, or the export of shrimp in any foreign country.
Under current law, Treasury must instruct U.S. leadership of international financial institutions to oppose providing financial assistance for the production or extraction of any commodity or mineral for export if (1) the commodity or mineral is in surplus on world markets, and (2) the export of such commodity or mineral will cause substantial injury to U.S. producers of a competing commodity or mineral (or of the same or a similar commodity or mineral). This bill requires the Government Accountability Office to investigate and annually report to Congress on the extent to which U.S. leadership at these institutions have carried out Treasury's instructions.
Legislative subjects
Agricultural trade; Congressional oversight; Foreign Trade and International Finance; Government information and archives; Government studies and investigations; International monetary system and foreign exchange; Seafood
Committee report
H. Rept. 119-571