Overview

Title

To establish a regional trade, investment, and people-to-people partnership of countries in the Western Hemisphere to stimulate growth and integration through viable long-term private sector development, and for other purposes.

ELI5 AI

The bill is like a big plan for countries in the Americas to become friends and work together to make things better and help people exchange ideas, but there are worries that some parts of the plan might be too expensive or not clear enough.

Summary AI

The bill S. 3878 proposes the creation of a regional partnership among countries in the Western Hemisphere, focusing on trade, investment, and people-to-people interactions to promote economic growth and integration. It includes strategies for enhancing digital governance, re-shoring, expanding free trade agreements, and investments in manufacturing and infrastructure. The bill also emphasizes educational and cultural exchanges and provides support for strategic energy investments and humanitarian assistance. The initiative aims to deter the influence of the People's Republic of China and encourage stronger economic relationships within the Americas.

Published

2024-03-06
Congress: 118
Session: 2
Chamber: SENATE
Status: Introduced in Senate
Date: 2024-03-06
Package ID: BILLS-118s3878is

Bill Statistics

Size

Sections:
53
Words:
41,756
Pages:
217
Sentences:
913

Language

Nouns: 12,779
Verbs: 2,844
Adjectives: 2,061
Adverbs: 257
Numbers: 1,411
Entities: 2,280

Complexity

Average Token Length:
4.36
Average Sentence Length:
45.73
Token Entropy:
5.82
Readability (ARI):
25.43

AnalysisAI

The Americas Act is a legislative proposal introduced in the U.S. Senate aimed at bolstering economic, trade, and cultural ties with countries in the Western Hemisphere. The overarching goal is to achieve growth and integration by fostering long-term private sector development and strengthening partnerships through various areas, including digital governance, trade, investment, and people-to-people exchanges.

General Summary of the Bill

The bill offers a comprehensive approach to enhancing cooperation among countries in the Americas. It establishes frameworks for digital governance, seeking to improve government services through data sharing and interoperability. Furthermore, the bill provides incentives for relocating businesses from China to the U.S. or nearby countries, emphasizing re-shoring and near-shoring strategies. In addition to these economic incentives, the bill proposes the creation of new educational and cultural exchange programs, such as the American University of the Americas and the Caribbean and Latin American Scholarship Program. Notably, it introduces financial tools to support regional development, including the establishment of a Re-shoring and Near-shoring Account to manage and fund these initiatives.

Significant Issues

One of the key concerns raised involves the allocation of resources and potential financial risks. For instance, the allocation of $70 billion in loans under Section 212 for incentivizing re-shoring and near-shoring businesses seems considerably large without stringent oversight, posing risks of wasteful spending. Moreover, there are vague criteria for tax credits, which could lead to misuse.

The introduction of a new visa program (Section 266)—the Concern for Advanced Retired and Elderly (CARE) visa—highlights another issue. The proposal lacks explicit procedures for applicant selection, creating ambiguity around its execution. Similarly, broad authority granted to entities like the Institute in Sections 102 and 103, without clearly specified governance and accountability measures, could lead to misuse of power.

Furthermore, the bill outlines substantial funding for various programs, like the BUILD Americas Unit and the Americas Partnership Enterprise Fund, without clearly defined spending limits or oversight. This broad allocation could potentially result in unchecked government expenditure.

Impact on the Public

For the broader public, the bill holds potential for both positive and negative impacts. On the positive side, successful implementation of re-shoring strategies and enhanced trade partnerships could lead to job creation and economic growth in participating regions. Educational initiatives could empower individuals through improved access to quality education and cultural exchanges, fostering greater regional integration.

Conversely, the large-scale financial commitments and potential for inefficient spending could strain public resources if not managed carefully. Moreover, the lack of clearly defined metrics for program success could hinder the effective evaluation of benefits, potentially leading to public dissatisfaction if expected outcomes are not achieved.

Impact on Specific Stakeholders

Different stakeholders are likely to experience varied effects from the bill's provisions. Businesses in the U.S. and partner countries might benefit significantly from incentives for near-shoring and re-shoring operations, potentially increasing their competitiveness and access to new markets. Educational institutions could find new avenues for collaboration and funding, enhancing their offerings and reputation.

However, government agencies involved in executing and overseeing these initiatives may face challenges. They must ensure sufficient coordination and oversight to prevent wasteful spending and achieve the intended outcomes. In addition, some industries not directly addressed by the bill's incentives might perceive a lack of support, potentially creating disparities in sectoral growth and development.

In summary, while the Americas Act presents ambitious plans for regional cooperation and development, it also poses considerable challenges in terms of resource allocation, oversight, and effective implementation. As such, careful attention will be needed to ensure that its potential benefits are realized while minimizing any negative repercussions.

Financial Assessment

The bill S. 3878 proposes establishing a regional partnership in the Western Hemisphere to enhance trade, investment, and cultural exchanges. It includes several significant financial allocations and references that warrant close examination due to the potential for misuse and lack of clarity in some areas.

Summary of Financial Allocations

  • Sec. 212 authorizes the provision of loans up to $70 billion to facilitate re-shoring and near-shoring of businesses from the People's Republic of China. This is an exceptionally high allocation, which lacks detailed monitoring or justification criteria, raising concerns about potential wasteful spending.

  • Sec. 213 introduces tax credits for qualifying re-shoring and near-shoring expenses, capped at $5 billion. The criteria for these credits are criticized for being vague, especially regarding "strategic supply chains," which might lead to ambiguous decision-making and potential misuse of funds.

  • Sec. 266 discusses a CARE visa program but lacks specificity on the processes for applicant selection, leaving the execution of this provision ambiguous. This could impact the financial efficiency of the program.

  • Sec. 252 establishes the BUILD Americas Unit with significant allocations. The lack of clear budgetary limits or oversight guidelines could lead to unchecked spending.

  • Sec. 253 outlines the creation of the Americas Partnership Enterprise Fund with a $1 billion initial capitalization. The section lacks detailed ethical standards, granting broad autonomy that might lead to misuse of funds or inefficiencies.

Concerns Addressed in the Issues

  • The issue raised regarding loan allocations in Sec. 212 being excessive connects to the problem of not having a structured process for monitoring how these loans are used. This absence of oversight might result in unexpected financial burdens or the inefficient use of resources.

  • Tax credit provisions in Sec. 213 rely on subjective evaluations and the concept of "strategic supply chains," which can lead to unclear criteria. This could make it challenging to ensure that funds are applied effectively, aligning with the highlighted issue of ambiguous decision-making.

  • The CARE visa program (Sec. 266) fails to specify the exact process for applicant selection, aligning with the issue of execution ambiguity, which may lead to inefficiencies and financial mismanagement.

  • The BUILD Americas Unit's significant funding lacks oversight, correlating with the concern of potential excessive spending without appropriate checks and balances.

  • Without precise ethical standards in Sec. 253, while handling $1 billion, there is potential for fiscal irresponsibility or misallocation of resources due to broad discretion allotted to the Fund.

In conclusion, while the bill's financial allocations aim to stimulate regional development, the lack of detailed oversight, clear criteria, and defined processes for the financial mechanisms introduces risks of inefficiency and potential misuse of funds. Addressing these gaps could improve the bill's financial management and ensure that allocated funds achieve their intended purposes effectively.

Issues

  • The allocation of $70 billion in loans under Sec. 212 for re-shoring and near-shoring of businesses seems excessively high and lacks proper monitoring and justification, which could lead to wasteful spending.

  • The criteria for tax credits in Sec. 213 for re-shoring and near-shoring expenses are vague, relying on subjective evaluations like 'strategic supply chains,' which may lead to ambiguous decision-making and potential misuse of funds.

  • The provision for up to 30% of the value of seized assets being paid to whistleblowers in Sec. 242 could be excessive or wasteful, especially if the value of assets is notably high, with no clear criteria for determining the specific percentage.

  • Sec. 266 outlines the CARE visa program without specifying the exact process for identifying and selecting eligible applicants, leaving execution of this provision ambiguous.

  • Sec. 252 grants significant funding to the BUILD Americas Unit without clear budgetary limits or oversight, which could lead to excessive spending.

  • Sec. 253's establishment of the Americas Partnership Enterprise Fund lacks detailed criteria for ethical standards, granting broad autonomy that could lead to wasteful spending or misuse.

  • Secs. 102 and 103 provide significant authority to 'the Institute' without clearly defining its governance, funding, or accountability mechanisms, potentially allowing for power misuse.

  • The funding mechanism detailed in Sec. 301 for the Re-shoring and Near-shoring Account lacks specificity on fund reimbursement sources, potentially causing financial strain.

  • The broad language in Sec. 212 regarding the waiver of penalties under 'extraordinary circumstances' could lead to inconsistent rule application.

  • The establishment of programs with large budget allocations in Sec. 232 for textile reuse and recycling lacks clear management or allocation guidelines, risking inefficiency or wasteful spending.

  • The complexity of terms and numerous cross-references in Secs. 234, 139J, and 199B, among others, could result in confusion and misinterpretation, complicating implementation and compliance.

  • The authorization of $500 million for initial capitalization in Sec. 301 without detailed budgeting could lead to unchecked spending.

  • Sec. 252's provision for equity investments by the government of up to 49% in private projects raises concerns over government overreach and favoritism.

  • The authority granted in Sec. 254 to the President to waive competition requirements for certain government contracts could lead to favoritism or lack of transparency.

  • The lack of specific metrics or accountability measures for the programs and activities mentioned in Subtitle D (Secs. 261-270) could lead to inefficiencies and reduce program efficacy.

Sections

Sections are presented as they are annotated in the original legislative text. Any missing headers, numbers, or non-consecutive order is due to the original text.

1. Short title; table of contents Read Opens in new tab

Summary AI

The Americas Act includes different titles focusing on digital governance, trade, investment, and cultural exchange within the Americas. It aims to enhance digital infrastructure, support economic cooperation through trade and investment partnerships, promote people-to-people activities, and manage revenue and branding efforts.

2. Definitions Read Opens in new tab

Summary AI

The section defines key terms used in the Act, including what it means for a country to be an "Americas partner country," what the "Americas program" involves, and specific meanings for moving operations or production to nearby countries ("near-shore") or back to the United States ("re-shore"). It also explains what qualifies as a "United States business" and who is considered a "United States person," while referencing the USMCA agreement and its members.

101. Americas Institute for Digital Governance Read Opens in new tab

Summary AI

The Americas Institute for Digital Governance is a nonprofit organization established to manage a digital governance framework in the Americas. The bill outlines the structure of the Institute’s Board of Directors, including the appointment process, terms, ethics requirements, and responsibilities, as well as the powers of its Chief Executive and staff, emphasizing its nonprofit status and corporate powers.

102. E-governance framework Read Opens in new tab

Summary AI

The section outlines a plan to create an e-governance system for countries in the Americas to improve their government services through shared data and collaboration between public and private sectors. It emphasizes principles like data privacy, security, and multilingual support, and provides guidelines for compliance, privacy protection, and cybersecurity, with provisions for handling noncompliance.

103. Additional duties of Institute Read Opens in new tab

Summary AI

The section describes the responsibilities of the Institute in promoting international cooperation for the development and deployment of e-governance systems with Americas partner countries, which includes offering technical assistance, developing standards, and partnering with private entities. It also outlines procurement restrictions to protect privacy and security, prohibiting the involvement of certain countries and allowing the exclusion of others as necessary.

104. Funding Read Opens in new tab

Summary AI

The section outlines that $10 million is approved for the creation of the Institute. Additionally, it specifies that more funds, if needed, will be available from a specific account called the Re-shoring and Near-shoring Account.

Money References

  • (a) Authorization of appropriations for Institute.—There are authorized to be appropriated $10,000,000 to establish the Institute.

201. Partnership agreements Read Opens in new tab

Summary AI

The Secretary of State is allowed to make partnership agreements with Western Hemisphere countries, adding new members to the USMCA, but must avoid countries involved in corruption or terrorism. Ineligible countries can receive guidance on how to qualify. If a partner country violates agreements, it may be suspended until compliant, and support programs are available to help countries become eligible.

202. Americas Partnership business advisory board Read Opens in new tab

Summary AI

The Americas Partnership business advisory board is created to help support discussions on the business environments of partner countries in the Americas. It will consist of members from private sector entities, civil society, and labor organizations, and will discuss topics like regulatory and labor issues, investment challenges, and technology regulations, as well as work with regulatory bodies and submit reports annually on these matters.

203. Administration Read Opens in new tab

Summary AI

The section outlines the responsibilities of various U.S. government bodies, including the Department of Commerce and the State Department, in managing partnerships and trade relations under a new initiative. It also specifies funding allocations for hiring additional staff and resources needed to support this initiative, with funds coming from the Re-shoring and Near-shoring Account.

Money References

  • — (A) IN GENERAL.—There shall be available to the Secretary of Commerce, from the Re-shoring and Near-shoring Account established under section 301, $10,000,000 for each of fiscal years of 2024, 2025, and 2026 to administer this title and the amendments made by this title.
  • — (A) IN GENERAL.—There shall be available to the United States Trade Representative, from the Re-shoring and Near-shoring Account established under section 301, $5,000,000 for each of fiscal years of 2024, 2025, and 2026 to administer this title and the amendments made by this title.
  • — (A) IN GENERAL.—There shall be available to the Secretary of State, from the Re-shoring and Near-shoring Account established under section 301, $10,000,000 for each of fiscal years of 2024, 2025, and 2026 to administer this title and the amendments made by this title.
  • — (A) IN GENERAL.—There shall be available to the Administrator, from the Re-shoring and Near-shoring Account established under section 301, $10,000,000 for each of fiscal years of 2024, 2025, and 2026 to administer this title and the amendments made by this title.

204. Americas Partnership Secretariat Read Opens in new tab

Summary AI

The section outlines the establishment of the "Americas Partnership Secretariat" within 180 days of the Act's enactment to handle diplomatic and partnership efforts among American countries. The secretariat's duties include fostering partnerships between local leaders, civil organizations, and private entities, alongside providing policy support. It will receive $10 million annually from 2024 to 2026 for these activities.

Money References

  • — (1) IN GENERAL.—There shall be available to the Secretariat, from the Re-shoring and Near-shoring Account established under section 301, $10,000,000 for each of fiscal years of 2024, 2025, and 2026 to carry out the duties of the Secretariat under this title and the amendments made by this title.

205. Report Read Opens in new tab

Summary AI

The section requires the Under Secretary to submit a report on activities conducted under this title to certain congressional committees within 180 days of the Act's enactment and every year after. These committees include specific ones from both the Senate and the House of Representatives, covering finance, foreign relations, ways and means, and foreign affairs.

211. Sense of Congress Read Opens in new tab

Summary AI

The section expresses Congress's opinion that relocating industries from China back to the United States is important for national security and fits the national security exceptions in article XXI of the GATT 1994, which is a trade agreement explained in another law.

212. Incentives for re-shoring and near-shoring of businesses from People’s Republic of China Read Opens in new tab

Summary AI

The section establishes incentives, including loans and grants, for businesses to move operations from China to the United States or other approved countries. Additionally, it offers duty-free import benefits and sets conditions, penalties, and possible waivers for entities not completing relocation within five years.

Money References

  • (B) AMOUNT.—The total amount of loans that may be provided under subparagraph (A) may not exceed $70,000,000,000.

213. Tax credit for qualifying re-shoring and near-shoring expenses Read Opens in new tab

Summary AI

The section establishes a tax credit for companies that move two-thirds or more of their operations from China to either the United States or a partner country in the Americas. It provides a 50% credit for re-shoring expenses and a 35% credit for near-shoring expenses, with a total cap of $5 billion in credits, and includes criteria for project selection and guidelines to prevent misuse.

Money References

  • — “(i) IN GENERAL.—The total amount of credits that may be allocated under the program shall not exceed $5,000,000,000.

45BB. Qualifying re-shoring and near-shoring expenses Read Opens in new tab

Summary AI

The section establishes tax credits for businesses that move their operations from China to either the United States or an American partner country, incentivizing these relocations by offering a credit for 50% of eligible re-shoring expenses and 35% of near-shoring expenses. There is a total cap of $5 billion on these credits, with specific rules for project eligibility, application, and recapture if the business expands back in China within ten years; it also prohibits double benefits and includes a requirement to adjust property basis accordingly.

Money References

  • — (i) IN GENERAL.—The total amount of credits that may be allocated under the program shall not exceed $5,000,000,000.

221. Tariff reciprocity under GATT 1994 Read Opens in new tab

Summary AI

The section outlines a plan for the United States to increase certain trade tariffs and engage in international negotiations to ensure fair trading practices. It highlights that the U.S. aims to raise its maximum allowable duty rates, particularly focusing on products from countries that harm U.S. industries or act unfairly, while defining key terms related to these trade practices.

222. Expansion of USMCA or establishment of other regional trade agreement Read Opens in new tab

Summary AI

The section discusses Congress's view that the USMCA (United States-Mexico-Canada Agreement) sets a high standard for trade agreements and encourages expanding it by adding new countries like Costa Rica and Uruguay. It outlines a plan for introducing a method to add other countries, particularly from the CAFTA–DR regions, and mandates a study on the potential trade impacts and benefits of such expansions.

223. Americas Partnership Threshold Program Read Opens in new tab

Summary AI

The Americas Partnership Threshold Program is a new initiative within the Department of Commerce aimed at helping partner countries in the Americas meet the standards of the USMCA trade agreement. The program involves assessments by the United States Trade Representative to identify and address these countries' weaknesses, with the goal of potentially allowing them to join the USMCA, and it will be funded through specific financial resources.

224. Expansion of beneficiaries under United States-Caribbean Basin Trade Partnership Act Read Opens in new tab

Summary AI

Congress suggests that trade benefits from the Caribbean Basin Economic Recovery Act should include more countries like Uruguay and Ecuador, especially those in America that don't have a trade agreement with the U.S. currently. The U.S. Trade Representative is advised not to include preferences for goods that negatively impact American producers.

225. Exclusion of certain countries from certain preferential trade treatment Read Opens in new tab

Summary AI

Countries that are members of the Bolivarian Alliance for the Peoples of Our America cannot receive special trade benefits from the United States under certain laws or trade agreements, as determined by the President.

226. Extension of trade promotion authority to Americas partner countries for purposes of expansion of USMCA Read Opens in new tab

Summary AI

The section extends trade promotion authority to the President for making trade agreements with Americas partner countries to include them in the USMCA. It allows the President to negotiate and modify duties or restrictions, but any agreement requires Congress's approval. Additionally, an annual report on the negotiations and agreements must be submitted to relevant Congressional committees.

231. Textile and apparel grant program Read Opens in new tab

Summary AI

The section outlines a grant program managed by the Secretary of Commerce to support U.S. and Americas partner countries' textile and apparel manufacturers in expanding or upgrading their operations. Grants can be used for new or retooled equipment and facilities, adherence to safety and environmental standards is required, and $150 million is allocated annually for five years, with funds divided equally between the U.S. and partner countries.

Money References

  • (d) Authorization of appropriations.—There is authorized to be appropriated to the Secretary of Commerce $150,000,000 each year for 5 years to carry out the program under this section, of which— (1) $75,000,000 shall be used to carry out the program in the United States; and (2) $75,000,000 shall be used to carry out the program in Americas partner countries.

232. Textile reuse and recycling programs Read Opens in new tab

Summary AI

Congress emphasizes the importance of reducing global greenhouse gas emissions from textiles and discourages slave labor in Chinese textile production. The bill proposes funding programs for recycling textiles, supporting innovation, educating the public on fast fashion, and certifying recycled textiles, with specific terms for recycled and reusable products.

Money References

  • (2) FUNDING.— (A) AUTHORIZATION OF APPROPRIATIONS.—There is authorized to be appropriated, from the Re-shoring and Near-shoring Account established under section 301, $3,000,000,000 to carry out the program under paragraph (1). (B) LOANS.—Of the amounts available under the lending authority under section 212(a)(1)
  • , $10,000,000,000 shall be available for loans under the program under paragraph (1). (d) Innovation program.
  • (2) AUTHORIZATION OF APPROPRIATIONS.—There is authorized to be appropriated $1,000,000,000 to carry out the innovation program required under paragraph (1). (e) Public education program.
  • (2) AUTHORIZATION OF APPROPRIATIONS.—There is authorized to be appropriated $100,000,000 to carry out the public education program required under paragraph (1). (f) Recycled certification process.—For purposes of carrying out this section, the President shall ensure that all recycled finished textiles are certified under a globally recognized independent third-party assurance process.

233. Textile production verification teams Read Opens in new tab

Summary AI

The section mandates that the U.S. Customs and Border Protection deploy permanent teams to inspect the textile production processes of partner countries in the Americas to ensure supply chain integrity. These teams must visit each country at least twice a year, inspecting at least 15 different facilities per visit, and cannot revisit the same company sequentially unless investigating previous misconduct.

234. Tax benefits for apparel and home textile products Read Opens in new tab

Summary AI

The section amends the Internal Revenue Code to offer tax benefits for products related to textile and apparel. It excludes certain income from taxation for corporations on sales of textile products tied to specific international agreements and provides deductions for domestic textile production and textile recycling activities.

139J. Sales of finished textile products imported from qualifying Western Hemisphere countries Read Opens in new tab

Summary AI

In this section, corporations are exempt from paying taxes on income from selling certain finished textile products within the United States, as long as these sales are not made to related companies. The products must be made from textiles originating in countries within the Western Hemisphere that have a free trade agreement with the U.S., such as those agreements with Canada, Mexico, Central America, and the Caribbean.

139K. Textile fiber products exported to qualifying Western Hemisphere countries Read Opens in new tab

Summary AI

Corporations in the U.S. don't have to include income from the sale of certain textile fiber products to qualified Western Hemisphere countries in their gross income. These products must either be fully made in the U.S. or qualify under specific free trade agreements, and they can be any type of fiber, yarn, fabric, or related textile product intended for various uses.

251. Income attributable to domestic textile production activities Read Opens in new tab

Summary AI

In this section, corporations can deduct 9% of either their qualified income from textile production or their overall taxable income, whichever is less, with limitations based on employee wages. It introduces specific rules on qualifying income, includes provisions for groups of companies, and excludes some foreign and related-person transactions from counting towards the deduction.

199B. Textile reuse and recycling activity income Read Opens in new tab

Summary AI

Under Section 199B, taxpayers can get a 15% deduction on income earned from recycling and reusing textiles, including activities like resale, repair, and remanufacturing. This applies to individual, partnership, and corporate levels and factors in deductions related to textile gross income, without affecting minimum tax calculations.

235. Treatment of fibers, fabrics, and yarns not available in commercial quantities in Americas partner countries Read Opens in new tab

Summary AI

The section outlines new rules and procedures for dealing with requests related to fibers, fabrics, and yarns not easily obtainable in Americas partner countries. It requires regulations for approving these requests, a study about including price considerations, and the creation of a list of items not available for trade, excluding those originating from China.

241. Establishment of special enforcement unit of U.S. Customs and Border Protection to monitor the implementation of Uyghur Forced Labor Prevention Act Read Opens in new tab

Summary AI

The U.S. Customs and Border Protection has set up a special enforcement unit to ensure the proper implementation of the Uyghur Forced Labor Prevention Act, which aims to prevent goods made with forced labor in Xinjiang, China, from entering the U.S. market. This unit will work closely with other law enforcement components and deploy agents and embassy positions as needed to coordinate their efforts.

242. Authorization of payments to whistleblowers relating to money laundering or illicit financial transactions Read Opens in new tab

Summary AI

The Executive Associate Director of Homeland Security Investigations is allowed to reward whistleblowers who report money laundering or illegal financial transactions to the Secretary of Homeland Security with up to 30% of the assets recovered from these activities.

243. Establishment of borders and ports protection program Read Opens in new tab

Summary AI

The Borders and Ports Protection Program aims to help Americas partner countries improve their border security by setting up special units with the help of U.S. Customs and Border Protection, the Department of Homeland Security, and the State Department. Additionally, it involves training, providing equipment, deploying U.S. officers, and collaborating with local law enforcement to address cross-border smuggling and related security concerns.

244. Establishment of mutual recognition agreements and trade transparency units Read Opens in new tab

Summary AI

The section mandates the establishment of mutual recognition agreements and trade transparency units between the U.S. and customs administrations of Americas partner countries as part of a customs security program. It outlines specific processes and collaboration needed to ensure data sharing is compatible with existing systems and harmonizes collected data across these agreements.

251. Sense of Congress Read Opens in new tab

Summary AI

Congress believes that there is a need for significant investments in infrastructure and trade ecosystems in America's partner countries and that China is exploiting trade practices to its advantage, causing negative impacts like unfair competition, environmental harm, and intellectual property theft. To counter this, Congress suggests the use of investment incentives, retaliatory tariffs, and reforms to boost productivity and supply chain movement while encouraging innovative and flexible approaches.

252. BUILD Americas Unit Read Opens in new tab

Summary AI

The BUILD Americas Unit is established to help the U.S. by moving industries closer from China and developing big infrastructure projects in the Americas. It will provide funding, staff, management, and organize financial support, like grants and loans, to encourage investment and growth in these regions.

Money References

  • “(D) APPROVAL LIMITS.—Under this paragraph— “(i) program managers may approve grants of not more than $4,999,999; “(ii) the Deputy Chief may approve grants of not less than $5,000,000 and not more than $49,999,999; and “(iii) the Deputy Assistant Secretary for the Americas Partnership may approve grants of not less than $50,000,000. “(E) REPORTING.
  • — “(i) APPROVAL LIMITS.—Under this paragraph— “(I) program managers may approve loans and guaranties of not more than $4,999,999; “(II) the Deputy Chief may approve loans and guaranties of not less than $5,000,000 and not more than $49,999,999; and “(III) the Deputy Assistant Secretary for the Americas Partnership may approve loans and guaranties of not less than $50,000,000.
  • Unit may provide a line of credit of not more than $50,000,000 to a United States business that meets such requirements as the Deputy Assistant Secretary for the Americas Partnership may determine.
  • “(iv) DENOMINATION.—Loans and guaranties made under this paragraph may be denominated and repayable in United States dollars or foreign currencies.

1416. BUILD Americas Unit Read Opens in new tab

Summary AI

The BUILD Americas Unit is a newly established U.S. Corporation initiative aimed at promoting U.S. interests by supporting infrastructure development in the Western Hemisphere, relocating industries from China, and managing supply chains. It is funded by specific U.S. accounts, has a Deputy Chief Executive Officer appointed by the President, and has authority to manage personnel, fund projects, provide loans, make equity investments, form partnerships, and offer insurance to support economic activities in partner countries across the Americas.

Money References

  • — (i) program managers may approve grants of not more than $4,999,999; (ii) the Deputy Chief may approve grants of not less than $5,000,000 and not more than $49,999,999; and (iii) the Deputy Assistant Secretary for the Americas Partnership may approve grants of not less than $50,000,000. (E) REPORTING.— (i) IN GENERAL.—The Unit shall— (I) use the e-governance framework established under title I for management of and reporting on grants; and (II) protect all restricted personal information (as that term is defined in section 119 of title 18, United States Code) collected under clause (ii). (ii) COLLECTION OF INFORMATION.—The Corporation shall carry out clause (i) by collecting information with respect to each such grant, including— (I) the beneficiary of the grant; (II) the amount; (III) the location of activities funded by the grant; (IV) a description of the activities funded by the grant; (V) a justification for approving the grant; (VI) the amount of funds provided for an activity by the beneficiary of the grant; (VII) a description of any other financial support from the Unit; (VIII) a description of how awarding the grant is anticipated to combat the influence of the People's Republic of China in the Western Hemisphere; and (IX) a description of how the grant overlaps with any other financial support provided by persons other than the Unit.
  • — (i) APPROVAL LIMITS.—Under this paragraph— (I) program managers may approve loans and guaranties of not more than $4,999,999; (II) the Deputy Chief may approve loans and guaranties of not less than $5,000,000 and not more than $49,999,999; and (III) the Deputy Assistant Secretary for the Americas Partnership may approve loans and guaranties of not less than $50,000,000. (ii) LOAN AVAILABILITY.
  • Unit may provide a line of credit of not more than $50,000,000 to a United States business that meets such requirements as the Deputy Assistant Secretary for the Americas Partnership may determine.
  • (iv) DENOMINATION.—Loans and guaranties made under this paragraph may be denominated and repayable in United States dollars or foreign currencies.

253. Americas Partnership Enterprise Fund Read Opens in new tab

Summary AI

The Americas Partnership Enterprise Fund is a program that allows the President to designate a nonprofit organization to support supply chain development and private sector growth in partner countries in the Americas. The fund is managed by a Board of Directors, which includes members from Americas partner countries, and provides grants, loans, and other assistance to qualified private entities.

Money References

  • — (A) IN GENERAL.—The Fund shall hire sufficient host country nationals to staff the central office to ensure that Fund resources are managed appropriately and to carry out the day-to-day operations of the central office, including— (i) program managers, who— (I) shall head the core management unit; (II) may approve program expenditures of up to $150,000; and (III) shall be evaluated primarily on the success of their respective portfolios; and (ii) additional support staff, provided that not more than 25 percent of the Fund’s annual expenditures are used for staffing and administration. (B) ETHICS OFFICER.—The Fund shall have an ethics officer, who— (i) shall be responsible for oversight of the host country nationals; (ii) shall develop ethical standards for the management of the Fund; (iii) shall facilitate the mainstreaming of ethics with respect to the staff of the Fund; (iv) may evaluate individual activities, as needed; and (v) should develop standard investment procedures that do not affect the flexibility and speed of the investment activities.
  • (C) ELIGIBLE PARTNER COUNTRIES.—Notwithstanding any other provision of law, the United States Trade and Development Agency may work in any Americas partner country regardless of income status designation. (D) AUTHORIZATION OF APPROPRIATIONS.—There is authorized to be appropriated to the United States Trade and Development Agency $10,000,000, which shall be expended on activities related to partnership agreements entered into under section 201. (6) GOODS AND SERVICES.
  • (1) AUTHORIZATION.—During the first fiscal year beginning after the date of the enactment of this Act, the Fund shall receive $1,000,000,000 from the Re-shoring and Near-shoring Account established under section 301 for initial capitalization.
  • — (1) MAJOR EXPENDITURES.—The Fund may not provide any grant, loan, technical assistance, or government support valued in excess of $499,999 unless the Board of Directors approves such action in advance. (2) RECORDKEEPING.—The Fund shall use the e-governance platform to maintain a database containing relevant information, as established by the Secretary of Commerce, regarding activities of the Fund, which shall be accessible by any member of the Board of Directors at any time.
  • (3) MINOR EXPENDITURES.—A member of the Board of Directors may not approve, deny, or influence the approval or denial of an expenditure by the Fund valued at less than $500,000 unless the Board of Directors determines that the individual authorized to approve or deny such expenditure, subject to the thresholds under this section, has engaged in independently verified malfeasance.

254. Near-shoring of strategic supply chains and transformational energy investments Read Opens in new tab

Summary AI

The United States aims to strengthen its national security and reduce reliance on China by promoting the establishment of strategic supply chains and energy projects in the Western Hemisphere. This policy involves identifying opportunities for near-shoring these industries, providing financial and technical support for these initiatives, and facilitating regulatory alignment with partner countries.

261. Humanitarian and business development assistance Read Opens in new tab

Summary AI

Congress proposes a section that emphasizes the importance of promoting human rights and democracy and authorizes assistance programs to strengthen economic ties and conservation efforts with partner countries in the Americas. The section outlines the establishment of various programs and funds like the Americas Partnership Accelerator Program and the Americas Partnership Fund for Nature, with specific appropriations to support these initiatives.

Money References

  • (2) AUTHORIZATION OF APPROPRIATIONS.—There is authorized to be appropriated, from the Re-shoring and Near-shoring Account established under section 301, $15,000,000 to carry out the program established under paragraph (1). (e) Americas Partnership Fund for Nature.
  • (2) AUTHORIZATION OF APPROPRIATIONS.—There is authorized to be appropriated, from the Re-shoring and Near-shoring Account established under section 301, $10,000,000 to carry out the activities described in paragraph (1). (f) Funding.—The Secretary of State may expend such sums as may be necessary from the Re-shoring and Near-shoring Account established under section 301 to carry out this section.

262. Department of State Read Opens in new tab

Summary AI

The section allows the Secretary of State to enhance cultural affairs programs with America's partner countries by offering more English language classes, scholarships, and cultural exchanges. It authorizes the use of additional funds for these programs and enables building upon existing initiatives like the 100,000 Strong in the Americas Innovation Fund.

263. Peace Corps Read Opens in new tab

Summary AI

The section addresses the expansion of the Peace Corps in Americas partner countries by requiring the Director of the Peace Corps to double the number of volunteers within 27 months after a partnership agreement is made, and to establish a presence in countries without current Peace Corps volunteers. The funding for these initiatives should come either from reallocating resources from other countries or a specific account called the Re-shoring and Near-shoring Account.

264. American University of the Americas Read Opens in new tab

Summary AI

Congress plans to establish the American University of the Americas in up to three countries in Latin America to offer high-quality education, focusing on science, technology, engineering, and math (STEM) subjects, while ensuring academic independence and preventing funding from certain foreign governments. The university will also host a Center of Excellence to address issues like corruption and trafficking, and it must comply with specific legal and financial regulations to receive support from the U.S. government.

265. United States Agency for International Development Caribbean and Latin American Scholarship Program III Read Opens in new tab

Summary AI

The section outlines a scholarship program, the Caribbean and Latin American Scholarship Program III, to be created by the United States Agency for International Development for students from partner countries. It offers full scholarships for bachelor's and master's degrees in specific fields, requires students to study abroad and return home afterward, and includes $20 million in annual funding from a designated account.

Money References

  • SEC. 265. United States Agency for International Development Caribbean and Latin American Scholarship Program III. (a) In general.—The Administrator of the United States Agency for International Development shall establish a scholarship program, which be known as the Caribbean and Latin American Scholarship Program III— (1) shall be modeled after the second phase of the Caribbean and Latin American Scholarship Program (commonly known as CLASP–II); (2) shall offer full ride scholarships (including tuition, fees, and reasonable accommodations) to qualifying students in partner countries; (3) shall offer bachelor's and master's degrees in science, technology, engineering, math, and the English language; and (4) shall require students— (A) to study outside of their respective countries of citizenship; and (B) to commit to return to their respective countries of origin following the completion of their studies. (b) Authorization of appropriations.—There is authorized to be appropriated, from the Re-shoring and Near-shoring Account established under section 301, $20,000,000 for fiscal year 2024 and each successive fiscal year to carry out the scholarship program authorized under subsection (a) in Americas partner countries. ---

266. Concern for Advanced Retired and Elderly nonimmigrant visa program for aliens who provide direct care for elderly populations Read Opens in new tab

Summary AI

Congress is considering a new visa program that would allow people from other countries to temporarily work in the U.S. as caregivers for the elderly and people with disabilities. This program aims to help families by providing affordable care, so family members can continue working, and it plans to issue up to 50,000 visas per year with specific requirements for training and certification.

Money References

  • (2) In 2020— (A) 45 percent of individuals caring for an elderly family member in the United States experienced financial hardship as a result of such caregiving, of whom 28 percent stopped saving and 22 percent exhausted their personal short-term savings; (B) 15 percent of United States workers transitioned from full-time employment to part-time employment due to the need to provide care for an elderly family member; (C) 6 percent of United States workers left the workforce entirely to care for an elderly loved one; and (D) 27 percent of United States workers reported finding affordable elder care services very difficult, and 33 percent of such workers reported finding such services moderately difficult. (3) If working family caregivers aged 50 years and older are provided the support they need to care for their loved ones, the gross domestic product of the United States could grow by an additional $1,700,000,000,000 by 2030.

267. Sense of Congress on TN visa program Read Opens in new tab

Summary AI

The section expresses Congress's opinion that the President should consider discussing the possibility of creating a TN visa category for low-skill workers during the 2026 review of the USMCA agreement.

268. Assessment of visa waiver program eligibility for Uruguay and Costa Rica Read Opens in new tab

Summary AI

The section requires the Secretary of Homeland Security, with the help of the Secretary of State, to deliver a report to Congress within 90 days to determine if Uruguay and Costa Rica qualify for the visa waiver program. If either country does not qualify, the report should also describe what they need to do to meet the eligibility criteria.

269. Radio Free Americas Read Opens in new tab

Summary AI

The section authorizes the U.S. government to provide annual grants to a Latin American or Caribbean country to establish and operate "Radio Free Americas," a broadcasting service that includes radio, television, and social media, aimed at offering diverse opinions and timely news to regions lacking freedom of expression. The service is expected to operate cost-effectively, maintain headquarters for accountability, and undergo an effectiveness assessment after three years, ensuring it serves U.S. interests without transforming into a federal agency.

270. Biennial presidential summit Read Opens in new tab

Summary AI

The President must host a summit with partner countries from the Americas at least every two years. During this summit, those countries will present and share their successful projects and programs that are linked to the activities authorized by this Act.

301. Re-shoring and Near-shoring Account Read Opens in new tab

Summary AI

The Re-shoring and Near-shoring Account is a special fund in the U.S. Treasury, created to encourage manufacturing within the U.S. and nearby countries. It starts with $500 million and can use its money for projects without needing further approval and can invest the money in government securities or, in some cases, in stocks, with any gained profits going back into the fund.

Money References

  • (a) In general.—There is established within the Treasury of the United States an account to be known as the “Re-shoring and Near-shoring Account” (in this section referred to as the “Account”), consisting of such amounts as are— (1) appropriated pursuant to the authorization of appropriations under subsection (c); (2) deposited into or transferred to the Account as specified in title II or subsection (c) of section 321 of Tariff Act of 1930, as added by section 302; and (3) credited to the Account under subsection (d). (b) Use of amounts.—Amounts in the Account shall be available, without further appropriation, to carry out titles I and II. (c) Authorization of appropriations.— (1) IN GENERAL.—There are authorized to be appropriated $500,000,000 for fiscal year 2024 for initial capitalization of the Account.

302. Modification of treatment of de minimis entries of articles Read Opens in new tab

Summary AI

The modification involves updates to the Tariff Act of 1930 regarding de minimis entries, which are small value imports. The updates include setting entry value limits up to $800, transferring some revenue to a fund supporting local production, and establishing restrictions on imports from certain countries like China and Russia. Specific rules for carriers and a public notification process for these changes are also introduced.

Money References

  • “(i) IN GENERAL.—Not later than 180 days after the date of the enactment of the Americas Act, the Secretary of the Treasury shall prescribe regulations to establish dollar amount thresholds, which may not exceed $800, for de minimis entries for purposes of subsection (a)(2)(C).
  • “(ii) REQUIREMENTS.—The Secretary shall establish a threshold under clause (i) for each country that is equal to the sum of— “(I) the dollar amount threshold of that country for de minimis entries from the United States; and “(II) any related thresholds of that country, such as a threshold relating to a value-added tax on imports. “
  • — “(i) IN GENERAL.—The Secretary of the Treasury shall transfer to the Re-shoring and Near-shoring Account established under section 301 of the Americas Act from the general fund of the Treasury, for fiscal year 2024 and each fiscal year thereafter, an amount equivalent to the amount received into the general fund during that fiscal year that the Secretary determines is attributable to revenue received as a result of the dollar amount thresholds established under subparagraph (A).

401. Annual report on Americas program Read Opens in new tab

Summary AI

The section requires the Secretary of Commerce to submit an annual report to Congress on activities under the Americas program, including assessments of various initiatives like trade negotiations, financial instruments, humanitarian aid, and educational and media programs. The report should also contain financial projections for the following fiscal year, intended to provide insights into re-shoring, near-shoring, and economic partnerships within the Americas.

402. Branding and marketing for Americas program Read Opens in new tab

Summary AI

The section outlines that the branding and marketing efforts for the Americas program must align with the Visibly American branding policies set by the Department of State.