Congress·In Committee·S. 3685

Congress moves to block U.S. funds from reimbursing oil and gas investments in Venezuela

No Taxpayer Funds for Corporate Investment in Venezuelan Oil Act

2 months ago·View on Congress.gov

Legislative Progress

Senate

House

President

Law

Key Points

Would block the U.S. government from using federal funds to reimburse anyone for certain oil and gas investment costs in Venezuela.
Covers “capital expenditures,” meaning big long-term spending like new buildings or permanent upgrades meant to increase a property’s value.
Applies broadly to people and organizations, including U.S. citizens, permanent residents, and U.S. or foreign companies and partnerships.
Would apply not just to the Treasury, but also to any U.S.-controlled account, and to payments made by someone acting for the U.S. government.
Practical effect: U.S. taxpayers wouldn’t help cover companies’ long-term oil and gas buildouts in Venezuela, even indirectly through reimbursements.

TradeEnergyForeign Policy

Impact Analysis

Personal Impact

How this policy affects specific groups of people

Mixed Impacts(1)

Federal Employee

Neutral

Milestones

2 milestones2 actions

Jan 15, 2026Senate

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Jan 15, 2026

Introduced in Senate

What Happens Next

Projected impacts based on AI analysis

Immediately after the bill becomes law

If Congress passes the bill and it becomes law, federal agencies must stop any reimbursements for Venezuela oil-and-gas capital projects.

Companies can’t rely on federal repayment for these types of Venezuela investments, and agencies must block payments even if a program or contract would otherwise allow them.

Related News

2 articles

The American Prospect·about 2 months ago

Venezuelan Oil Revitalization: Paid For With Your Taxes

Long-form piece linking U.S. financing tools and proposed reimbursements for oil investment in Venezuela; explicitly references the No Taxpayer Funds for Corporate Investment in Venezuelan Oil Act and its limits.

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Vermont Business Magazine·about 2 months ago

Welch joins bill to block taxpayer-funded handouts for corporate oil investments in Venezuela

Reposts/recaps Sen. Peter Welch’s announcement supporting the No Taxpayer Funds for Corporate Investment in Venezuelan Oil Act and summarizes the bill’s reimbursement ban for capital expenditures.