The bill emphasizes the importance of the security, stability, and prosperity of countries in the Western Hemisphere to the United States. It highlights the need to counter the influence of China, Russia, and Iran in Latin America and the Caribbean and outlines strategies to expand engagement, strengthen alliances, combat illicit trafficking, and support the rule of law and democracy in the region. The bill also calls for a multi-year security strategy to enhance diplomatic engagement, security assistance, and cooperation in the Western Hemisphere. Additionally, it includes provisions for tracking and addressing efforts by the Maduro regime in Venezuela to detain U.S. citizens and providing technical assistance to partner countries for screening investments from adversarial countries.