United States 119th Congress Status: In Committee Bipartisan · 19 D · 1 I cosponsors

S 2965 — No Argentina Bailout Act

Last action — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the Senate. Introduced October 01, 2025. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the Senate.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Advancing 42% · moderate confidence

  • In Committee

    Current position in the legislative process.

  • 20 sponsors

    1 primary, 19 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (19 D · 1 I) — cross-party backing.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Summary

No Argentina Bailout ActThis bill prohibits the use of the Exchange Stabilization Fund (ESF) to provide financial support to Argentina. (The ESF is an emergency reserve fund of the Department of the Treasury originally used for the purpose of maintaining the fixed dollar exchange rate. In October 2025, Treasury announced U.S. financial support for Argentina, including a $20 billion currency swap line financed through the ESF.)Specifically, the bill prohibits the use of the ESF to provide direct or indirect financial support to Argentina, including through the establishment of currency swap lines, the purchase of pesos or sovereign debt of Argentina, or the extension of any credit instrument. This prohibition terminates on December 10, 2027.Any financial contract or instrument that was entered into before the bill's enactment and violates the prohibition must be sold or terminated within seven days of the bill's enactment.

Bill Text

How this bill changes current law

2 changes Share ↗

Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill prohibits the use of the Exchange Stabilization Fund to provide financial support to Argentina's financial markets.

  • 31 U.S.C. § 5302(b)

    (1) The fund may not be used to provide direct or indirect financial support to the country of Argentina under paragraph (1), including through the establishment of currency swap lines, the purchase of pesos or sovereign debt of Argentina, or the extension of any credit instrument. (2)(B) Any financial contract or instrument entered into before the date of the enactment of this paragraph that violates subparagraph (A) shall be sold or terminated not later than 7 days after such date of enactment. (2)(C) The prohibition under subparagraph (A) terminates on December 10, 2027.

    This addition explicitly prohibits the fund from being used to support Argentina financially and requires any existing agreements that contravene this prohibition to be terminated.

  • 31 U.S.C. § 5302(b)

    (1)

    This insertion changes the structure of subsection (b) to accommodate the new prohibitions.

Action History

  1. Introduced in Senate

  2. Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sponsors

Sponsorship breakdown

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1 sponsors · 19 co-sponsors · 527 not signed on

Sponsors (1)

Co-sponsors (19)

Not signed on (527)

527 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance elections
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Frequently asked questions

What does S 2965 do?
No Argentina Bailout ActThis bill prohibits the use of the Exchange Stabilization Fund (ESF) to provide financial support to Argentina. (The ESF is an emergency reserve fund of the Department of the Treasury originally used for the purpose of maintaining the fixed dollar exchange rate. In October 2025, Treasury announced U.S. financial support for Argentina, including a $20 billion currency swap line financed through the ESF.)Specifically, the bill prohibits the use of the ESF to provide direct or indirect financial support to Argentina, including through the establishment of currency swap lines, the purchase of pesos or sovereign debt of Argentina, or the extension of any credit instrument. This prohibition terminates on December 10, 2027.Any financial contract or instrument that was entered into before the bill's enactment and violates the prohibition must be sold or terminated within seven days of the bill's enactment.
Who sponsors S 2965?
S 2965 is sponsored by Warren, Elizabeth (Democratic), Kaine, Tim (Democratic), Van Hollen, Chris (Democratic), Booker, Cory A. (Democratic), Smith, Tina (Democratic), Gallego, Ruben (Democratic), Sanders, Bernard (Independent), Welch, Peter (Democratic), Hirono, Mazie K. (Democratic), Schatz, Brian (Democratic), Schumer, Charles E. (Democratic), Kim, Andy (Democratic), Reed, Jack (Democratic), Cortez Masto, Catherine (Democratic), Heinrich, Martin (Democratic), Alsobrooks, Angela D. (Democratic), Rosen, Jacky (Democratic), Duckworth, Tammy (Democratic), Schiff, Adam B. (Democratic), and Warnock, Raphael G. (Democratic).
What is the current status of S 2965?
This bill is in committee in the Senate. Introduced October 01, 2025. It must pass committee before a floor vote.
Where can I track S 2965?
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