Political Quotes

“I want to express my strong support for H.R. 1037, the Banking Transparency for Sanctioned Persons Act. The bill includes important provisions to strengthen our national security, and it passed unanimously last year in the full House. I am pleased to see this legislation come to the floor under a new sponsor, the gentleman from Virginia (Mr. Riggleman). Although he is in his first term, Congressman Riggleman has already made significant contributions to the committee's work. His leadership on this bill is a case in point. The gentleman's legislation would require the Treasury Department to provide Congress with a copy of licenses that authorize financial services for state sponsors of terrorism. These licenses are essentially waivers, and while sanctions laws often require congressional notification when formal waivers are issued, licenses can fall through the cracks. To be clear, some licenses may be desirable, such as those allowing humanitarian relief or allowing for tailoring of sanctions in order to better advance our policy goals. In other cases, however, Congress may have legitimate concerns that a sanctioned entity is being licensed to carry out transactions with U.S. persons, including our country's financial institutions. This bill simply ensures that Congress knows whether a license has been issued, which will allow us to have better oversight of the sanctions program. In addition, Mr.…”