Sponsors
The bill aims to protect U.S. taxpayers and provide targeted relief to domestic manufacturers hit by tariffs while increasing Congressional control over ESF use, but it raises sizable fiscal costs, narrows who gets help, and reduces executive flexibility to respond quickly to foreign financial crises.
Small- and medium-sized U.S. manufacturers receive direct payments for documented tariff-related losses, protecting their revenues and jobs.
The bill creates a rapid federal mechanism (2025–2029) to offset tariff shocks, reducing uncertainty for affected businesses and families.
Taxpayers are protected from the use of Exchange Stabilization Fund (ESF) resources to finance Argentina, reducing potential U.S. taxpayer exposure to foreign financial losses.
Taxpayers may bear at least $20 billion in costs to compensate firms harmed by Presidential tariffs, increasing the federal fiscal burden.
The restriction on using ESF funds for Argentina limits the Administration’s ability to rapidly stabilize financial markets, which could worsen regional instability and indirectly harm U.S. financial institutions and taxpayers.
Narrow eligibility rules (e.g., 50% domestic steel/aluminum threshold and exclusions for certain foreign inputs) may leave many affected manufacturers without relief and create administrative disputes over who qualifies.
Based on analysis of 3 sections of legislative text.
Bans ESF support to Argentina and creates an ESF-funded relief program (at least $20B) to reimburse eligible U.S. small/medium manufacturers for tariff harms from 2025–2029.
Introduced November 7, 2025 by Haley Stevens · Last progress November 7, 2025
Prohibits the Secretary of the Treasury from using Exchange Stabilization Fund (ESF) money to provide direct or indirect financial support to Argentina. Directs the Treasury to set up a relief program funded from the ESF (authorizes at least $20 billion) to reimburse eligible U.S. small and medium manufacturers for verified financial harm caused by Presidential tariffs on imports imposed between January 20, 2025 and January 20, 2029, subject to eligibility rules and an application process.