Support No Argentina Bailout Act. Stop Foreign Rescues During Shutdown!

I am writing to urge you to support the No Argentina Bailout Act and to demand full transparency and accountability regarding the Trump administration’s recent $20 billion rescue arrangement with Argentina. At the very moment when the United States government is partially shut down—thousands of public servants furloughed, critical agencies shuttered, and communities warned that “we lack the funds to operate”—the administration has chosen to extend vast resources abroad. Treasury Secretary Scott Bessent has confirmed that the U.S. is using the Exchange Stabilization Fund to purchase Argentine pesos and extend a currency-swap facility reportedly worth $20 billion. While the administration frames this as a “swap,” it functions in practice as a bailout—a high-risk intervention to stabilize Argentina’s currency and debt markets.  The funds come from U.S. taxpayers, yet there has been no congressional authorization and no assurance of repayment if the peso continues to collapse. We cannot justify propping up a foreign government’s finances while telling our own workers and agencies that “there’s no money.”  I therefore urge Congress to: 1 Enact the No Argentina Bailout Act to halt further disbursements until full transparency and congressional approval are secured. 2 Hold public hearings on the use of the Exchange Stabilization Fund for foreign rescues during a domestic funding crisis. 3 Require disclosure of which financial entities stand to gain from this intervention. The American people deserve fiscal consistency: if we cannot fund our own government, we cannot afford to bail out another’s.