# What This Bill Does

This bill puts a cap on how much money the U.S. government can spend on a specific international lending program in 2024. The Development Credit Authority is a government program that helps developing countries by providing loans and credit guarantees to support their economic growth and business development. This bill says that no matter what, the government cannot spend more than $55 million on this program for the entire fiscal year 2024.

# Who This Affects and Why It Matters

This primarily affects developing countries that rely on U.S. financial support for projects like building infrastructure, starting businesses, or strengthening their economies. When the U.S. limits funding for this program, fewer loans and credit guarantees are available, which means fewer projects can get off the ground in those countries. American companies that do business internationally could also be affected, since this program sometimes helps create opportunities for U.S. firms to work on projects abroad. Additionally, this impacts U.S. foreign policy goals—the government uses development assistance as a tool to build relationships with other countries and promote American interests globally.

# The Bottom Line

This is essentially a cost-cutting measure that restricts government spending on international economic development programs. Whether you see this as responsible budget management or as cutting back on America's role in helping developing nations depends on your perspective about foreign aid spending. Either way, it means less money flowing to this particular international lending program in 2024.

To provide for a limitation on availability of funds for Bilaterial Economic Assistance, Development Credit Authority for fiscal year 2024.

Biggs, Andy

 <p>This bill limits FY2024 funding for the Bilateral Economic Assistance, Development Credit Authority account.</p>