Today, the House passed H.R. 3662, the Iran Terror Finance Transparency Act. Rep. Loudermilk strongly supported the bill.
“Since the U.S. signed the Iran deal this past July, Iran has blatantly broken its side of the agreement by testing ballistic missiles on three separate occasions, including firing rockets near American navy ships. Yet, the Obama Administration chose to lift sanctions anyway.
“We have to remember Iran’s true intentions. They sponsor terrorism, capture U.S. military boats and force American patriots to kneel at gun point, hold innocent U.S. citizens hostage, and chant, ‘Death to America.’ Iran is not our friend, and is certainly not our ally. They are our enemy; and diplomacy will not stop them from trying to destroy us. Iran does not deserve a pat on the back as it plots to strike at the heart of what makes America exceptional – our freedom.”
Background Information on H.R. 3662:
Under H.R. 3662, the president would be required to certify to Congress that sanctioned individuals or foreign banks are no longer supporting Iranian weapons development or terrorist activities before economic restrictions are lifted. Other provisions of the bill are as follows:
• Federal agencies would be directed to submit quarterly reports to Congress on the number and types of U.S. licenses issued for activities in Iran.
• H.R. 3662 would impose sanctions against individuals or entities that conduct business with Hezbollah, Hamas, and the Palestinian Islamic Jihad, and these terrorist organizations would be added to a list of third-party financiers included in the Comprehensive Iran Sanctions, Accountability and Divestment Act.
• The president would be prohibited from removing Iran’s designation as a ‘jurisdiction of primary money laundering,’ unless the president can certify to the appropriate committees that Iran is no longer supporting acts of terrorism.
