Nicholas Gilman: “I agree with Chairman Hamilton on the importance of this legislation and the need for its prompt consideration by the…”

“I agree with Chairman Hamilton on the importance of this legislation and the need for its prompt consideration by the House. We need to establish a fair and orderly system of adjudicating the claims of United States nationals against Iraq. The $1.2 billion in frozen Iraqi assets is far outweighed by the $5 billion in total claims by the United States Government, individuals and companies. The bill authorizes the vesting of these frozen Iraqi assets to pay claims that are not within the jurisdiction of the U.N. Compensation Commission and authorizes the Foreign Claims Settlement Commission to administer and allocate any funds received from the U.N. Commission. Mr. Speaker, I urge my colleagues to support the rule and the Iraq Claims Act.”