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Iranian Leadership Asset Transparency Act

Floor Speech

Date: Sept. 21, 2016
Location: Washington, DC
Issues: Foreign Affairs

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Mr. YOUNG of Indiana. Mr. Chairman, I rise in support of my amendment to the Iranian Leadership Asset Transparency Act.

I thank the gentleman from Maine (Mr. Poliquin) for his timely and valuable bill.

Iran is a determined and treacherous enemy of the United States. Despite the hopes of the Obama administration's following the adoption of the JCPOA nuclear agreement, Iran has only escalated its aggressive foreign policy over the past year. It has not locked arms agreeably with the community of civilized nations.

While the Obama administration removed the sanctions related to Iran's nuclear program following the adoption of the JCPOA, U.S. sanctions remain in place against Iran in response to its state sponsorship of terrorism, ballistic missile program, and human rights violations.

Tracking and cataloging the assets and funds that are controlled by the Iranian regime is a necessary step towards uncovering how Iran continues to challenge and attempts to circumvent the U.S. sanctions regime.

My amendment simply builds upon the excellent foundation laid out in the underlying bill by expanding the scope of the reporting requirements. These new components require Treasury to provide recommendations for improving the U.S. sanctions regime against Iran and a description of how Treasury assesses the impact and effectiveness of U.S. sanctions.

The amendment will enhance the ability of Congress to assess and exercise oversight over Iran policy. The expanding reporting requirements will also contribute to the ability of Congress to ensure that Iran policy is serving the national security interests of the United States.

Iran's continued aggression threatens all Americans regardless of one's political party. It is not partisan maneuvering for Congress to require the Department of the Treasury to provide valuable information to Congress on matters of great importance to our national security.

Mr. Chairman, I yield back the balance of my time.

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