McGarvey Demands Answers on Billion Dollar Bailout for Argentina
WASHINGTON, D.C. – This week, Congressman Morgan McGarvey joined a group of Democratic lawmakers to call on Treasury Secretary Scott Bessent to provide immediate 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 detrimental 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. Adding to the outrage, President Trump suggested yesterday that the U.S. government would purchase beef from Argentina, a direct betrayal of American ranchers.
“President Trump has explicitly conditioned the bailout on the electoral success in this month’s elections of President Milei’s party,” the members wrote. “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.
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