Ways and Means Oversight Subcommittee Ranking Member Terri A. Sewell, D-Alabama; Trade Subcommittee Ranking Member Linda T. Sánchez, D-California; and 54 of their Democratic colleagues Monday called on Treasury Secretary Scott Bessent to provide answers regarding the Trump administration’s $20 billion bailout of Argentina.
The members expressed concerns that the bailout is an inappropriate use of U.S. taxpayer funds to influence Argentina’s upcoming election in favor of President Trump’s political ally, Argentine President Javier Milei. They also highlighted the bailout’s impact on American farmers, particularly soybean producers, and a potential conflict of interest involving a close associate of the Trump administration who stands to financially benefit from the arrangement. President Trump also suggested Monday that the U.S. government would purchase beef from Argentina.
“President Trump and his administration is once again selling out the American people to help his wealthy friends and political allies,” said Ranking Member Sewell. “Billions of Americans’ taxpayer dollars are being sent to support the political prospects of Argentine President Javier Milei while President Trump continues to try to strip away healthcare from millions of working families in the U.S. The American people deserve answers.”
The members wrote in part, “President Trump has explicitly conditioned the bailout on the electoral success in this month’s elections of President Milei’s party. The U.S. Treasury’s authorities to address international financial crises, which are meant for situations that present a genuine U.S. national interest, should not be used to influence elections abroad. In this regard, President Trump has not only conditioned the loan on President Milei’s electoral prospects, but he has also noted that the United States will not benefit from the bailout.”
The members continued, “Due to the Trump Administration’s failed trade policy, China purchased almost no American soybeans from May to August of this year. As American farmers struggle, Brazil has set records in its soybean exports to China and Argentina is following suit after capitalizing on the Trump administration’s promise of a bailout. American farmers need relief. American farmers need restored market access.”
Full text of the letter is available here.
