No Taxpayer Funds for Corporate Investment in Venezuelan Oil Act

Key Points

• This bill would stop the U.S. government from using taxpayer money to pay back companies for their investments in Venezuela’s oil and gas industry.
• The ban specifically targets money spent on building new facilities or making permanent improvements to property to increase its value, known as capital expenditures.
• The rule applies to all U.S. citizens, permanent residents, and corporations, ensuring that no federal accounts are used to cover their business costs in the Venezuelan energy sector.
• By cutting off these reimbursements, the policy aims to ensure that U.S. tax dollars are not used to subsidize or support private business activities within Venezuela.
• This action addresses concerns about how U.S. funds might indirectly support the Venezuelan government through the energy sector.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.