Press Releases

Rep. Barry Loudermilk (R-Ga) issued the following statement after the House passed the National Defense Authorization Act (NDAA) for fiscal year 2021:

“The NDAA has been the primary way Congress executes its Constitutional duty to provide our men and women in uniform with the tools, weapons, resources and support they need to effectively protect our nation. I am pleased to see Congress negotiate in a bipartisan manner and come to a consensus on an NDAA that provides our military with the defensive capabilities necessary to combat China and Russia’s growing influence around the world. This bill also provides our military service members with a well-deserved pay raise and looks after our military families and veterans. Among many other important provisions, the bill calls for seven new C-130J Super Hercules aircraft and 93 new F-35 Join Strike Fighters, which are important to Georgia’s 11th Congressional District because the C-130J and part of the F-35 are assembled in the 11th District and employ thousands of hardworking Georgians.”

Background

- Recognizes China and Russia’s role as revisionist powers and prioritizes responding to those threats.

- Provides for seven C-130Js and $9.1 billion for 93 F-35’s.

- Provides $740.5 billion for national defense programs.

- Provides 3% pay raise for the military.

- Creates the Pacific Deterrence Initiative to combat China’s malign influence in the Indo-Pacific.

- Fully funds the European Deterrence Initiative to resist Russia’s influence in Europe.

- Modernizes currency transaction reports (CTRs) and suspicious activity reports (SARs) under the Bank Secrecy Act so to require the administration to conduct a formal review of CTR and SAR reporting, and to issue rules to make changes to these reports to reduce overly burdensome regulations.

- Requires regulators to review and determine whether reporting thresholds should be adjusted, and to propose rules as appropriate, including potentially tying the CTR and SAR thresholds to inflation.

- Requires state, local and tribal law enforcement officials who need access to beneficial ownership information to obtain approval of their request from the court system in the local jurisdiction.