H.R. 2071: Save Our Shrimpers Act

This bill, titled the Save Our Shrimpers Act, aims to restrict the use of Federal funds that are allocated to international financial institutions for specific purposes related to shrimp farming and processing outside of the United States. Here are the key provisions of the bill:

Prohibition on Financing Foreign Shrimp Farms

The bill requires that any Federal funding provided to international financial institutions, such as development banks, must not be used to finance activities connected to shrimp farming, shrimp processing, or the export of shrimp in any foreign country. This means that the U.S. government would ensure that its financial contributions to such institutions do not support the establishment or operation of shrimp farms abroad.

Annual Compliance Reporting

The bill mandates the Comptroller General to submit an annual report to Congress regarding compliance with the provisions of this Act. This report, which must be made within 180 days of the bill's enactment and then annually thereafter, will assess how U.S. Executive Directors at certain international financial institutions have followed instructions to oppose funding assistance for the production or extraction of commodities or minerals that are in surplus globally.

Objective of the Bill

The primary goal of the Save Our Shrimpers Act is to protect domestic shrimpers in the United States by preventing foreign competition that arises from financially supported shrimp farming operations in other countries. The bill aims to secure the livelihood of American shrimp fishermen by ensuring that Federal resources are not used to subsidize shrimp farming overseas.

Implications

If enacted, this legislation would restrict U.S. financial involvement in international shrimp farming initiatives, potentially influencing global shrimp supply dynamics and market conditions that affect both domestic shrimpers and international competitors.

Relevant Companies

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