National Strategy for Combating Terrorist, Underground, and Other Illicit Financing Act

Floor Speech

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Mrs. WAGNER. Mr. Speaker, I thank my colleague, Representative Fitzpatrick, the chair of our terrorism task force here, along with Representative Lynch, Representative Sinema, and others, for moving forward on this issue and legislation.

I stand today in support, and I am proud to have been a cosponsor of this important legislation that would require the President to develop an all-encompassing government strategy to combat money laundering and terrorist financing.

The National Strategy for Combating Terrorist, Underground, and Other Illicit Financing Act addresses this important problem by developing a comprehensive strategy that includes many different components and capabilities of our Federal Government and allies.

From my time working on the terrorism finance task force, we have heard testimony from members of various government agencies and from the private sector who play a role in fighting this issue abroad. As a former United States Ambassador who has worked to stop international terrorist financing, it is clear that coordination and communication between these agencies can be improved to block terrorist financing.

ISIS, along with other terrorist groups, continues to find creative and new ways to obtain financing, oftentimes using our regulated financial system as a means to launder that money. This legislation, H.R. 5594, ensures our government is taking all actions necessary to stop this growing terrorist threat, and I urge its passage.

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