Bill would create $6 billion enterprise fund for Haiti's economy
In committeeH.R. 1114Latest action
Sponsor: Sheila Cherfilus-McCormick · Representative · FL
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Official title: L’Ouverture Economic Development Plan for Haiti Act of 2025
119th Congress
Topics: Security & foreign affairs
Introduced:
Read the official bill on Congress.govIn plain words
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HR 1114 would fund a Haitian American Enterprise Fund with up to $6 billion through 2031 to spur Haiti's economic development.
55-second read · 5 questions answered below
What does this do?
The bill creates a Haitian American Enterprise Fund, run by a designated nonprofit and overseen by the U.S. International Development Finance Corporation and a 9-person panel. The fund would invest in Haitian businesses, infrastructure, agriculture, manufacturing, and job training through loans, grants, equity, and technical assistance. It also sets U.S. policy goals for Haiti, including supporting democracy, reducing corruption, and addressing migration causes.
Who does it affect?
Haitian businesses, farmers, and workers would be directly affected, along with Haitian-Americans encouraged to invest in Haiti's economy. U.S. taxpayers and agencies like the International Development Finance Corporation and USAID would also be involved.
Why does it matter?
The fund's existence and spending depend on annual congressional funding decisions through 2031, and it must repay government money and shut down by then. Its effectiveness would be tracked through required audits and public reports.
What does it cost, and who pays?
- Up to $1 billion per year, 2026-2031
- Total cap of $6 billion
- Must repay funds by end of 2031
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Where does it stand?
- IntroducedFeb 7, 2025
- House committeeYou are here · Sep 2, 2026
- House vote
- Senate
- The president's desk
Right now: a House committee is reviewing it. If the Senate changes it, it goes back to the House before reaching the president.
Latest action: — ASSUMING FIRST SPONSORSHIP - Mr. Jackson (IL) asked unanimous consent that he may hereafter be considered as the first sponsor of H.R. 1114, a bill originally introduced by Representative Cherfilus-McCormick, for the purpose of adding cosponsors and requesting reprintings pursuant to clause 7 of rule XII. Agreed to without objection.