Congress·In Committee·H.R. 7038

Protecting Taxpayers from Risky Investments in Venezuela Act

Congress moves to bar federal funds from supporting Venezuela oil projects, requiring State Department reports

Jan 13·View on Congress.gov·Read full text

Part of: U.S.-Venezuela Energy Policy and Oversight

StalledNext up: A house committeeNo action in 6 months

This bill is currently sitting in the House Committee on Foreign Affairs where it was sent in January 2026. No action has been taken on the proposal for five months, and it is considered stalled. The House committee must choose to review the bill before it can move any further.

Legislative Progress

House

No action since January 2026

Senate

President

Law

Key Points

Would block U.S. government money from being used to support Venezuela’s oil and petroleum projects.
Covers many kinds of support, like loans, insurance, guarantees, contracts, tax breaks, or payments to companies tied to oil work there.
Also bans U.S. officials from promoting or backing Venezuela oil projects in places like international banks and global forums.
Allows an exception only if a later law passed by Congress clearly approves a specific spending action.
Requires the State Department to report within 180 days after the law starts, and then every year, on any related activity and compliance.

Foreign PolicyTradeEnergy

Impact Analysis

Personal Impact

How this policy affects specific groups of people

Mixed Impacts(2)

Housing Assistance

Neutral

Federal Employee

Neutral

Milestones

2 milestones2 actions

Jan 13, 2026House

Referred to the House Committee on Foreign Affairs.

Jan 13, 2026

Introduced in House

The bill was officially filed and given a number. It now enters the legislative queue.

Related News

3 articles

Spectrum News (Spectrum Local News)·Jan 15

Dems introduce bill barring funding for Venezuela oil

Rep. Mike Levin and Sen. Jeff Merkley introduce the Protecting Taxpayers from Risky Investments in Venezuela Act to bar U.S. taxpayer dollars from rebuilding Venezuela’s oil infrastructure without congressional approval.

Center

League of Conservation Voters·Jan 13

Trump’s Policies to Subsidize Oil and Gas Overseas Raises Costs at Home

LCV statement responding to the introduction of the Protecting Taxpayers from Risky Investments in Venezuela Act, urging Congress to block taxpayer support for Venezuela oil infrastructure.

Center Left

League of Conservation Voters·Jan 16

This Week in Climate Action — January 16, 2026

LCV roundup notes the bicameral introduction of the Protecting Taxpayers from Risky Investments in Venezuela Act aimed at preventing U.S. taxpayers from funding fossil fuel infrastructure in Venezuela.

Center Left

No votes or related bills recorded for this bill yet.