Bill Summary
The "American Manufacturers over Argentine Bailouts Act" is a legislative proposal aimed at providing financial relief to small and medium-sized manufacturers in the United States. The Act consists of several key provisions:
1. **Prohibition on Financial Support to Argentina**: It prohibits the Secretary of the Treasury, following the President's direction, from providing financial support to Argentina using funds designated for international financial stabilization.
2. **Financial Relief Program for Manufacturers**: The Act establishes a program to offer financial assistance to eligible manufacturers who experience negative financial impacts due to tariffs imposed by the President on foreign imports between January 20, 2025, and January 20, 2029.
3. **Application Process**: The Secretary is tasked with creating an administrative process for manufacturers to apply for financial relief, requiring them to demonstrate the goods they produce, the tariffs affecting their production inputs, and the financial harm incurred due to these tariffs.
4. **Funding Authorization**: It authorizes a minimum of $20 billion in financial assistance to eligible manufacturers from the stabilization fund.
5. **Eligibility Criteria**: To qualify for assistance, manufacturers must employ fewer than 500 individuals, source at least 50% of their steel or aluminum inputs domestically, and not source any inputs from entities deemed foreign concerns.
Overall, the legislation seeks to support domestic manufacturing by mitigating the adverse effects of tariffs while simultaneously restricting U.S. financial aid to Argentina.
Possible Impacts
Here are three examples of how the proposed legislation, the "American Manufacturers over Argentine Bailouts Act," could affect people:
1. **Financial Support for Small Manufacturers**: The legislation would provide financial relief to small and medium-sized manufacturers who are negatively impacted by tariffs on foreign imports. This could help these businesses maintain operations, keep employees on the payroll, and avoid layoffs during challenging economic conditions. For example, a small manufacturer producing machinery parts that relies on imported steel might face increased costs due to tariffs. The financial relief could offset these costs, enabling the manufacturer to remain competitive and sustain its workforce.
2. **Job Security and Employment Stability**: By offering financial assistance to eligible manufacturers, the legislation could contribute to job security for workers employed by these businesses. If a manufacturer can receive funds to counteract the financial strain caused by tariffs, it may be less likely to implement cost-cutting measures such as layoffs or reduced hours. This stability can have a positive ripple effect on local economies, as employees would continue to earn wages and spend money in their communities.
3. **Encouragement of Domestic Sourcing**: The bill requires eligible manufacturers to source a significant portion of their steel and aluminum inputs domestically (at least 50%). This requirement could encourage manufacturers to strengthen relationships with domestic suppliers, leading to increased business for local suppliers and fostering growth in the domestic supply chain. As a result, communities could see a boost in local manufacturing jobs and economic activity, as well as reduced dependence on foreign entities, contributing to national economic resilience.
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5984 Introduced in House (IH)]
<DOC>
119th CONGRESS
1st Session
H. R. 5984
To direct the Secretary of the Treasury to provide financial relief for
small and medium sized manufacturers, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
November 7, 2025
Ms. Stevens introduced the following bill; which was referred to the
Committee on Financial Services
_______________________________________________________________________
A BILL
To direct the Secretary of the Treasury to provide financial relief for
small and medium sized manufacturers, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``American Manufacturers over
Argentine Bailouts Act''.
SEC. 2. PROHIBITION ON USE OF EXCHANGE STABILIZATION FUND FOR
ARGENTINA.
The Secretary, pursuant to the direction of the President, shall
not provide direct or indirect financial support to the country of
Argentina under funds designated for such purpose under section 5302 of
title 31, United States Code.
SEC. 3. SMALL AND MEDIUM SIZED MANUFACTURERS TARIFF RELIEF.
(a) In General.--Of funds made available to carry out section 5302
of title 31, United States Code, the Secretary shall establish a
financial relief program for eligible manufacturers to offset negative
financial impacts related to any tariffs applied by the President on
foreign imports between January 20, 2025 to January 20, 2029.
(b) Disbursement.--
(1) In general.--The Secretary shall establish an
appropriate administrative process for eligible manufacturers
to submit an application and to receive financial support
described in subsection (a). The Secretary may issue any
guidance or regulation necessary to carry out this section.
(2) Application.--The application submitted by small and
medium sized manufacturers required by the Secretary under
paragraph (1) shall include--
(A) a description of the good produced by the
eligible manufacturer in the United States;
(B) a description of any foreign imports subject to
a tariff that are production inputs of the good
described in subparagraph (A); and
(C) a description of the negative financial impact
experienced by the eligible manufacturer due to any
tariff imposed by the President, including any tariff
described in subparagraph (B).
(3) Relief amount.--The Secretary shall provide direct or
indirect financial support in an amount equal to the financial
harm imposed by any applicable tariff experienced by an
eligible manufacturer described in the application submitted
pursuant to paragraph (2).
(c) Authorizations.--To carry out this section, the Secretary is
authorized to provide no less than $20,000,000,000 in financial
assistance to eligible manufacturers from any available funds available
in the stabilization fund described in section 5302 of title 31, United
States Code.
(d) Definitions.--
(1) Eligible manufacturer.--The term ``eligible
manufacturer'' means a small and medium sized manufacturer
domiciled in the United States that--
(A) employs less than 500 individuals;
(B) sources at least 50 percent of any steel or
aluminum inputs domestically; and
(C) does not source any production inputs from a
foreign entity of concern.
(2) Secretary.--The term ``Secretary'' means the Secretary
of the Treasury.
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