WASHINGTON, D.C. – Congressman Clay Higgins (R-LA), Oversight and Accountability Chairman James Comer (R-KY), and Congressman Troy Nehls (R-TX) are putting pressure on the U.S. Government Accountability Office (GAO) to examine whether the U.S. Treasury Department is adhering to legal requirements by opposing international economic assistance projects that threaten American industries, including the shrimp industry.
This letter coincides with Congressman Higgins and Congressman Nehls’ legislation, the Save Our Shrimpers Act of 2024, which would prohibit federal funds from being made available to International Financial Institutions (IFIs) that subsidize foreign activity relating to shrimp farming, shrimp processing, or the export of shrimp to the United States. Read more on that legislation here.
“It has come to our attention that the U.S. Treasury Department may not be in compliance with statutory requirements to oppose projects seeking economic assistance before international monetary institutions that pose direct competition to American industries,” wrote the lawmakers. “This role is crucial to ensure American tax dollars are not used to undermine American industries in international economic decisions while representing the United States on global financial boards like the International Monetary Fund and the World Bank.”
“Notably, since 2006, U.S. directors have either supported or abstained from voting at least 17 times on projects involving industries that directly compete with the U.S. shrimp industry—an industry facing severe challenges due to foreign shrimp dumping. These findings raise concerns that the Treasury Department may not fully comply with this statute and, in some cases, has voted to support industries that directly compete with American businesses,” continued the lawmakers. “To ensure these policies are followed, we request that the Government Accountability Office review whether the Treasury Department has met its obligations under this statute.”
Read the letter here.
