On the recordJune 16, 2015
I want to say thank you to Mr. Fitzpatrick for cosponsoring this amendment and for his leadership as the chairman of the Task Force to Investigate Terrorism Financing. Thank you also to Chairman Nunes and Ranking Member Schiff for supporting this important amendment. The purpose of the bipartisan Sinema-Fitzpatrick amendment is to choke off the Islamic State's revenue stream. Our amendment directs the intelligence community to detect, deter, and degrade Islamic State's revenue sources and to report on the strategy and resources needed for success. The Islamic State is one of the world's most violent and dangerous terrorist groups. Its goals to build a caliphate in the Middle East and encourage attacks in Europe and the United States represent a new threat to our country and to global stability. ISIL is also believed to be the richest terrorist organization in history, controlling a huge territory in Iraq and Syria containing significant oil resources. In 2014, the Islamic State generated approximately $1 million per day through the sale of smuggled oil, extortion, and kidnapping for ransom. U.S. strikes have reportedly diminished ISIL's oil revenues, but the breadth of this terrorist organization's funding sources represents a serious challenge to our national security.…





