H. Rpt. 119-571 accompanies the "Save Our Shrimpers Act" — legislation that falls within the Financial Services Committee's jurisdiction. Committee reports serve as the official legislative history of a bill, documenting what the legislation would do and why the committee recommends passage. Reports of this kind include the committee's section-by-section analysis, any amendments adopted during markup, the Congressional Budget Office cost estimate, dissenting views from minority members, and the legal basis for the legislation. Courts and agencies consult committee reports when interpreting enacted laws, making these documents important beyond the immediate legislative moment.
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House Report 119-571 - SAVE OUR SHRIMPERS ACT
[House Report 119-571]
[From the U.S. Government Publishing Office]
119th Congress } { Report
HOUSE OF REPRESENTATIVES
2d Session } { 119-571
=======================================================================
SAVE OUR SHRIMPERS ACT
----------------
March 25, 2026.--Committed to the Committee of the Whole House on the
State of the Union and ordered to be printed
----------------
Mr. Hill of Arkansas, from the Committee on Financial Services,
submitted the following
R E P O R T
[To accompany H.R. 2071]
[Including cost estimate of the Congressional Budget Office]
The Committee on Financial Services, to whom was referred
the bill (H.R. 2071) to prohibit Federal funds from being made
available to international financial institutions for the
purposes of financing foreign shrimp farms, and for other
purposes, having considered the same, reports favorably thereon
with amendments and recommends that the bill as amended do
pass.
CONTENTS
Page
Purpose and Summary.............................................. 2
Background and Need for Legislation.............................. 2
Committee Consideration.......................................... 2
Related Hearings................................................. 3
Committee Votes.................................................. 3
Committee Oversight Findings..................................... 6
Performance Goals and Objectives................................. 6
Committee Cost Estimate.......................................... 6
New Budget Authority and CBO Cost Estimate....................... 6
Unfunded Mandates Statement...................................... 7
Earmark Statement................................................ 7
Federal Advisory Committee Act Statement......................... 7
Applicability to the Legislative Branch.......................... 7
Duplication of Federal Programs.................................. 7
Section-by-Section Analysis of the Legislation................... 7
Changes in Existing Law Made by the Bill, as Reported............ 8
Documents Included by Unanimous Consent.......................... 9
The amendments are as follows:
Strike all after the enacting clause and insert the
following:
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Save Our Shrimpers Act''.
SEC. 2. VOICE AND VOTE REQUIREMENT.
(a) In General.--The Secretary of the Treasury shall instruct the
United States Executive Director at each international financial
institution (as defined in section 1701(c)(2) of the International
Financial Institutions Act) to use the voice and vote of the United
States to oppose any financial assistance by such institution for any
project to support shrimp farming, shrimp processing, or the export of
shrimp in a borrowing country.
(b) Waiver Authority.--The Secretary of the Treasury may waive
subsection (a) with respect to a project upon notifying the Congress
that the waiver is in the national interest of the United States.
(c) Expiration.--Subsection (a) shall have no force or effect after
the end of the 7-year period beginning on the date of enactment of this
Act.
Amend the title so as to read:
A bill to require the United States Executive Directors at
the international financial institutions to oppose certain
projects involving shrimp production.
PURPOSE AND SUMMARY
H.R. 2071, the Save Our Shrimpers Act, was introduced on
March 11, 2025, by Republican Representative Troy Nehls (TX-
22). This legislation requires the Secretary of the Treasury to
direct U.S. Executive Directors at the international financial
institutions (IFIs) to use the voice and vote of the United
States to oppose financial assistance for projects that support
foreign shrimp farming, processing, or export. This bill also
provides waiver authority to the Secretary of the Treasury and
sunsets the mandate at seven years from enactment.
BACKGROUND AND NEED FOR LEGISLATION
Over the past several decades, U.S. shrimp consumption has
grown substantially, with growth captured by foreign imports,
especially from Ecuador, India, and Indonesia. The U.S. shrimp
industry has seen its market share decrease from 50 percent to
less than 10 percent of domestic consumption, at least in part
due to foreign subsidies and unfair trade practices.
Following a successful antidumping petition by the American
Shrimp Processors Association in 2023, the Biden Administration
stopped supporting shrimping projects at the IFIs. The Trump
Administration has stepped up support for the shrimp industry
by proactively opposing such projects. It remains unclear how
many shrimp-focused projects there are at the IFIs, with most
support likely routed through more general financing
structures.
COMMITTEE CONSIDERATION
119TH CONGRESS
On March 11, 2025, Representative Nehls introduced H.R.
2071, the Save Our Shrimpers Act, with Representatives Clay
Higgins (R-LA), Vicente Gonzalez (D-TX), Troy Carter (D-LA),
Nancy Mace (R-SC), Randy Weber (R-TX), Gus Bilirakis (R-FL),
Julia Letlow (R-LA), Anna Paulina Luna (R-FL), Greg Murphy (R-
NC), John Rutherford (R-FL), Byron Donalds (R-FL), Barry Moore
(R-AL), Brian Babin (R-TX), Mike Ezell (R-MS), Michael Cloud
(R-TX), Russell Fry (R-SC), and Buddy Carter (R-GA) as original
cosponsors. Representatives Mike Haridopolos (R-FL), David
Rouzer (R-NC), and Donald Davis (D-NC) were added subsequently
as cosponsors.
The bill was referred solely to the Committee on Financial
Services. The bill was attached to the February 10, 2026,
hearing titled ``Priced Out of the American Dream:
Understanding the Policies Behind Rising Costs of Housing and
Borrowing.''
On March 4, 2026, the Committee on Financial Services met
in open session to consider, among others, H.R. 2071. The
Committee ordered H.R. 2071, as amended, to be reported with a
favorable recommendation to the House of Representatives.
118TH CONGRESS
On April 10, 2024, Representative Nehls introduced H.R.
7932, the Save Our Shrimpers Act, with Representatives Higgins,
Vicente Gonzalez, Garret Graves (R-LA), Ezell, Moore, Mace,
Donalds, Weber, Babin, Fry, Luna, Letlow, and Bilirakis as
original cosponsors. Representatives Rouzer, Michael Cloud (R-
TX), Greg Murphy (R-NC), Bill Posey (R-FL), Jerry Carl (R-AL),
Rutherford, Buddy Carter, Derrick Van Orden (R-WI), Blaine
Luetkemeyer (R-MO), and Troy Carter (D-LA) were added
subsequently as cosponsors. The bill was referred solely to the
Committee on Financial Services. There was no further
legislative action on H.R. 7932 in the 118th Congress.
RELATED HEARINGS
Pursuant to clause 3(c)(6) of rule XIII of the Rules of the
House of Representatives, the following hearing was used to
develop H.R. 2071:
On February 10, 2026, the Committee on Financial Services
held a hearing titled ``Priced Out of the American Dream:
Understanding the Policies Behind Rising Costs of Housing and
Borrowing.'' A discussion draft version of H.R. 2071 was
attached to this hearing. The hearing examined how policies in
the financial services and housing sectors contributed to
rising cost-of-living pressures for American families by
restricting access to capital and credit. The hearing assessed
the impact of inflationary policies, regulatory overreach, and
restrictive supervisory policies that have increased borrowing
costs, weakened capital formation, and constrained housing
supply. The Committee heard testimony from: Mr. Brian Brooks,
Chairman and Chief Executive Officer, Meridian Capital Group;
Mr. Kevin O'Leary, Chairman, O'Leary Ventures; Mr. Stephen
Moore, Co-Founder, Unleash Prosperity; Dr. Darrick Hamilton,
University Professor, the New School, and Chief Economist, AFL-
CIO.
COMMITTEE VOTES
Clause 3(b) of rule XIII of the Rules of the House of
Representatives requires the Committee Report to include record
votes on the motion to report legislation and amendments
thereto.
On March 4, 2026, the Committee ordered H.R. 2071, as
amended, to be reported favorably to the House by a recorded
vote of 42 yeas and 1 nay, a quorum being present. (Record Vote
No. FC-250)
Before the question to report was called, the Committee
adopted an amendment in the nature of a substitute, designated
HR2071ANS, offered by Republican Representative Andy Barr (KY-
06) on behalf of Republican Representative Warren Davidson (OH-
08). The amendment was adopted by voice vote.
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COMMITTEE OVERSIGHT FINDINGS
Pursuant to clause 3(c) of rule XIII of the Rules of the
House of Representatives, the findings and recommendations of
the Committee, based on oversight activities under clause
2(b)(1) of rule X of the Rules of the House of Representatives
are incorporated in the descriptive portions of this report.
PERFORMANCE GOALS AND OBJECTIVES
Pursuant to clause 3(c)(4) of rule XIII of the Rules of the
House of Representatives, the goal of H.R. 2071 is to require
the use of United States influence to oppose IFIs support for
foreign shrimp industries.
COMMITTEE COST ESTIMATE
Clause 3(d)(1) of rule XIII of the Rules of the House of
Representatives requires an estimate and a comparison of the
costs that would be incurred in carrying out H.R. 2071. Clause
3(d)(2)(B) of that Rule provides that this requirement does not
apply when, as with the present report, the Committee adopts as
its own the cost estimate for the bill prepared by the Director
of the Congressional Budget Office.
NEW BUDGET AUTHORITY AND CBO COST ESTIMATE
With respect to the requirements of clause 3(c)(2) of rule
XIII of the Rules of the House of Representatives and section
308(a) of the Congressional Budget Act of 1974 and with respect
to requirements of clause 3(c)(3) of rule XIII of the Rules of
the House of Representatives and section 402 of the
Congressional Budget Act of 1974, the Committee adopts as its
own the cost estimate for the bill prepared by the Director of
the Congressional Budget Office.
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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 the extension of
financial assistance by those institutions to foreign countries
for farming, processing, or exporting shrimp. That requirement
would expire seven years after enactment. On the basis of
information about the costs of diplomatic efforts to influence
the actions of international organizations, CBO estimates that
the advocacy required by the bill would cost less than $500,000
over the 2026-2036 period. Such spending would be subject to
the availability of appropriated funds.
The CBO staff contact for this estimate is Sunita D'Monte.
The estimate was reviewed by Christina Hawley Anthony, Deputy
Director of Budget Analysis.
Phillip L. Swagel,
Director, Congressional Budget Office.
UNFUNDED MANDATES STATEMENT
Pursuant to Section 423 of the Congressional Budget and
Impoundment Control Act of 1974, Pub. L. No. 93-344 (as amended
by Section 101(a)(2) of the Unfunded Mandates Reform Act of
1995, Pub. L. No. 104-4), the Committee adopts as its own the
cost estimate prepared by the Director of the Congressional
Budget Office (CBO) pursuant to section 402 of the
Congressional Budget and Impoundment Control Act of 1974.
EARMARK STATEMENT
In compliance with clause 9 of rule XXI of the Rules of the
House of Representatives, this bill, as reported, contains no
congressional earmarks, limited tax benefits, or limited tariff
benefits as defined in clause 9(e), 9(f), or 9(g) of rule XXI.
FEDERAL ADVISORY COMMITTEE ACT STATEMENT
No advisory committees within the meaning of section 5(b)
of the Federal Advisory Committee Act were created by this
legislation.
APPLICABILITY TO THE LEGISLATIVE BRANCH
The Committee finds that the legislation does not relate to
the terms and conditions of employment or access to public
services or accommodations within the meaning of section
102(b)(3) of the Congressional Accountability Act.
DUPLICATION OF FEDERAL PROGRAMS
Pursuant to clause 3(c)(5) of rule XIII of the Rules of the
House of Representatives, the Committee states that no
provision of the bill establishes or reauthorizes a program of
the Federal Government known to be duplicative of another
Federal program, including any program that was included in a
report to Congress pursuant to section 21 of the Public Law
111-139 or the most recent Catalog of Federal Domestic
Assistance.
SECTION-BY-SECTION ANALYSIS OF THE LEGISLATION
Section 1. Short title
Section 1 provides the short title is the ``Save Our
Shrimpers Act.''
Section 2. Voice and vote requirement
Section 2 requires the Secretary of the Treasury to
instruct the Executive Directors at each of the international
financial institutions to use the voice and vote of the United
States to oppose financial assistance for projects supporting
the farming, processing or export of shrimp.
CHANGES IN EXISTING LAW MADE BY THE BILL, AS REPORTED
H.R. 2071 does not repeal or amend any section of a
statute. Therefore, the Office of Legislative Counsel did not
prepare the report required under clause 3(e) of rule XIII of
the House of Representatives.
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