April 11, 2024 — Today, in a bipartisan effort, Representative Troy Nehls (R-TX) and co-sponsors have introduced the Save Our Shrimpers Act (SOS Act), a piece of legislation aimed at safeguarding the U.S. shrimp industry. The bill seeks to prevent U.S. taxpayer funds from supporting shrimp-related activities in foreign countries through international financial institutions.
The proposed legislation arises from concerns raised by the Southern Shrimp Alliance(SSA), which last year published a research report titled A Crisis of Our Own Making. The report sheds light on the role played by international financial institutions, including the World Bank, in the expansion of excess shrimp aquaculture capacity worldwide. The report notes that U.S. taxpayers have unwittingly contributed billions of dollars to foreign shrimp aquaculture through these institutions.
The proposed SOS Act explicitly prohibits the use of U.S. taxpayer funds by international financial institutions for any activity related to shrimp farming, shrimp processing, or shrimp exports in foreign countries. The legislation also mandates an annual report from the U.S. Government Accountability Office(GAO).
According to U.S. shrimping associations, the consequences of unchecked shrimp aquaculture projects funded by international financial institutions have been severe for U.S. shrimpers. The bill notes that the encouragement of excess shrimp production has led to a surplus in world markets, including the U.S. This oversupply has significantly depressed prices received by U.S. shrimpers for their catch. According to the bill, shrimp imports to the U.S. have lost $1.5 billion in value since 2021, which the bill notes directly affects the livelihoods of shrimpers across eight states in the Gulf.