Financial Transparency of Iranian Regime Passes With Bipartisan Support

The U.S. House of Representatives passed legislation authored by Congressman Bruce Poliquin that would publicly disclose the assets of Iran’s tyrannical regime, which have been used to support and sponsor terrorism. 

The Iranian Leadership Asset Transparency Act passed with bipartisan support in a 282-143 vote. Congressman Poliquin, a member of the Bipartisan Task Force to Investigate Terrorism Financing, released the following statement:

"Iran is the world’s leading state sponsor of terrorism and they cannot be trusted,” said Congressman Poliquin. “Iran’s top government leadership, including the Supreme Leader and the military and political leaders, have amassed substantial wealth from their tyrannical rule of their people. Reports have indicated these funds are being used to support and sponsor terrorism. I am proud Democrats and Republicans in the House acted today to move forward this important legislation to make these assets public so the world knows where the money is going.”

“We need to know as much as we possibly can about how Iran is financing terrorism,” said Chairman Jeb Hensarling (TX-05) of the House Financial Services Committee. “We need to make sure financial institutions and private businesses do not inadvertently become involved in money laundering and sponsorship of terrorism. I applaud Mr. Poliquin for his hard work in drafting a bill that will help achieve some common sense goals as we fight the financing of terrorism.”

In June, the bill passed through the House Financial Services Committee with bipartisan support, including with support from Democratic Congressman Stephen Lynch (MA-08), who is the ranking member on the Task Force to Investigate Terrorism Financing.

The Iranian Leadership Asset Transparency Act will publicize the assets associated with members of Iran’s tyrannical government leadership, including the Supreme Leader of Iran, Members of the Council of Guardians, Members of the Expediency Council and the top military leaders.   The Department of Treasury would submit a report to Congress on the assets under control, how the assets were acquired and how they are used by these top political and military leaders.  The report would be submitted to Congress and available on the Treasury’s website in English as well as the 3 main languages used in Iran:  Farsi, Arabic, and Azeri.

This week, the House is also voting on legislation to prohibit the President from making ransom payments to Iran: the Prohibiting Future Ransom Payments to Iran Act.  Specifically, this bill bars payment to Iran for the purpose of releasing prisoners, including cash payment like what was used in the ransom payment that was exposed to the public earlier this year.

This is Congressman Poliquin’s third bill to pass the House in his freshman term in Congress.  One of those bills, the Child Support Assistance Act, was signed into law by President Obama as part of the Highway Funding bill in December 2015.

Items to Note:

• VIDEO: Rep. Poliquin Speaks on the House Floor
• Rep. Poliquin Calls for Financial Transparency for Iranian Regime Leaders