US Senators John Boozman and Michael Bennet submitted a draft bill to remove restrictions to private financing for US agricultural exports to Cuba.
The Agricultural Export Expansion Act (S.1447) aims to support producers from Arkansas, Colorado and the entire country by lifting restrictions that prevent using that kind of financing for agricultural exports to Cuba.
'We've heard loud and clear that American farmers and ranchers want the opportunity to compete and sell their product around the world, including in the Cuban market,' Bennet said in a communiqué.
According to the Colorado senator and Democratic presidential candidate, 'despite our progress in the 2018 Farm Bill, existing trade restrictions with Cuba continue to put our farmers and ranchers at a disadvantage.'
'Cuba imports 80 percent of its food, but Americans start out at a disadvantage since private financing is not allowed. Our bill removes this barrier, said the senator, who noted that this step 'can yield big dividends for American farmers and the Cuban people'.
Republican Senators Jerry Moran, Susan Collins, Mike Enzi, Kevin Cramer and John Hoeven; and the Democratic Tom Udall, Mark Warner, Debbie Stabenow, Patrick Leahy and Amy Klobuchar are among the original cosponsors of the draft bill.