CONGRESS FOR VOTERS

DemocratBill · H.R. 7038· House(119-HR-7038)

Protecting Taxpayers from Risky Investments in Venezuela Act

Rep. Levin
Age: 48 years
California
Introduced
1/13/2026
Last activity
1/13/2026 — Referred to the House Committee on Foreign Affairs.
Sponsored by
Mike Levin
Cosponsors
Democrat - 22Republican - 0
International Affairs
  1. Introduced
  2. In Committee

What this bill would do

This bill, titled the "Protecting Taxpayers from Risky Investments in Venezuela Act," seeks to stop the United States Government from spending money on Venezuela's oil and petroleum sector. It prohibits federal funds from being used to finance, subsidize, or support the development, maintenance, or expansion of oil infrastructure in Venezuela. This includes restrictions on purchasing real property, providing insurance or loan guarantees, and making payments to corporations or individuals. The ban also covers any promotion of Venezuela's oil sector by U.S. government officials. An exception is allowed if a future Act of Congress explicitly authorizes the expenditure. Finally, the Secretary of State must submit annual reports to specific congressional committees to ensure compliance.

Yes

  • Does this make what the government does easier for the public to see?+4

    The bill mandates annual reports from the Secretary of State to congressional committees regarding expenditures related to Venezuela's oil sector.

  • Does this reduce what the federal government spends?+3

    The bill prohibits the use of federal funds to finance, subsidize, or insure Venezuela's oil and petroleum infrastructure.

  • Does this reduce how much oil, gas and coal is produced?+2

    The bill seeks to halt the expansion and maintenance of oil infrastructure in Venezuela through the denial of U.s. federal funding.

The opposite

  • Does this send more money or help to other countries?-5

    The bill restricts the flow of U.S. financial support and economic assistance to Venezuela's energy sector.

  • Would people in rural areas be better off under this?-1

    The restriction on oil infrastructure funding may negatively impact economic activity associated with the petroleum sector.