Frank Lautenberg: “I rise today to engage in a colloquy with my friend, the distinguished Chairman of the Senate Committee on Banking…”

“I rise today to engage in a colloquy with my friend, the distinguished Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, regarding HR 1905, the Iran Threat Reduction and Syria Human Rights Act of 2012. I want to thank the chairman for crafting a strong sanctions package that includes language I authored to close a loophole in current law that allows foreign subsidiaries of U.S. companies to continue doing business with Iran without imposing any penalties on their U.S. parent companies. We must close this loophole once and for all, and I am pleased the Chairman agrees with me.”