USDA loans would expand to cover commercial fishing
In committeeS. 4236Latest action
Sponsor: Lisa Murkowski · Senator · AK
AIDecoded by AI · checked against the recordRead the official text
Official title: American Seafood Competitiveness Act of 2026
119th Congress
Topics: Jobs & the economy
Introduced:
Read the official bill on Congress.govIn plain words
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Commercial fishermen and fish processors could apply for USDA loans and grants that were previously only available to farmers.
50-second read · 4 questions answered below
What does this do?
This bill lets commercial fishermen and fish processors apply for USDA loan and grant programs that have only been open to farmers and ranchers until now. They could use loans to buy fishing permits, vessels, or processing facilities, and use operating loans for everyday business costs. Wild-caught seafood would also qualify for a USDA program that supports local and regional food markets.
Who does it affect?
People who catch fish commercially, fish processing businesses, and businesses that provide services to seafood harvesters would be affected. Farm Credit banks and production credit associations would be able to lend to seafood-related service businesses under this bill.
Why does it matter?
Fishing and processing businesses would have access to a broader set of federal financing and marketing tools that were not previously available to them. Within one year of passage, USDA would be required to reach out to fishermen, train staff, and coordinate with other federal and state agencies to put these changes into effect.
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Where does it stand?
- IntroducedMar 26, 2026
- Senate committeeYou are here · Mar 26, 2026
- Senate vote
- House
- The president's desk
Right now: a Senate committee is reviewing it. If the House changes it, it goes back to the Senate before reaching the president.
Latest action: — Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.