119-HR-8974 Journalist Public Summary

Public Summary — H.R. 8974 (119th Congress)

1) Headline Summary: Lets the U.S. Development Finance Corporation (DFC) invest in Venezuela by taking Venezuela off the statutory “country of concern” list that now prohibits DFC projects there. [1]LII (Cornell Law School) — 22 U.S. Code § 9601 - Definitions | LII / Legal Info…

2) What It Does: The bill strikes Venezuela from the BUILD Act’s list of “countries of concern” and adds a clear, one‑line authorization for DFC to invest in the country. Under current law, DFC cannot support projects in any “country of concern,” a category that (as amended in 2025) includes Venezuela. [1]LII (Cornell Law School) — 22 U.S. Code § 9601 - Definitions | LII / Legal Info…

• 3) Who’s For It: Sponsors Rep. Darrell Issa (R‑CA) and Rep. María Elvira Salazar (R‑FL). [2]Quiver Quantitative — H.R. 8974 bill page | Quiver Quantitative
• Supporters’ case: unlocking DFC‑backed private investment to help stabilize Venezuela’s economy and advance U.S. policy goals—consistent with DFC’s mission to mobilize private capital for development. [3]U.S. International Development Finance Corporation — U.S. International Develop…
• Context many supporters point to: Treasury has recently issued Venezuela general licenses that allow negotiations and contingent contracts for certain future investments, signaling a controlled opening that DFC could complement. [4]U.S. Department of the Treasury — Issuance of Venezuela-related General License…

• 4) Who’s Against It: Skeptical lawmakers warn taxpayer‑backed finance could be risky or indirectly aid state‑linked actors; a separate Senate bill (S. 3621) would bar U.S. funds from supporting Venezuela’s oil infrastructure. [5]Congress.gov — All Information for S. 3621 (119th): Protecting Taxpayers from R…
• Compliance caution: Even if this bill passes, any activity must still fit within OFAC’s Venezuela sanctions program and reporting rules, which remain detailed and restrictive. [6]U.S. Department of the Treasury — Venezuela-Related Sanctions | Office of Forei…

5) What’s Next: As of May 22, 2026, H.R. 8974 was introduced on May 21, 2026 and referred to the House Foreign Affairs Committee; it must still pass the House and Senate and be signed by the President to become law. [2]Quiver Quantitative — H.R. 8974 bill page | Quiver Quantitative