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Washington, D.C. — House Foreign Affairs Committee Chairman Michael McCaul (R-TX) introduced the No Funds for Iranian Terrorism Act, legislation to permanently freeze the $6 billion of Iranian funds released as part of the Biden administration’s 2023 hostage deal.
“I’m proud to introduce this legislation that would permanently freeze the $6 billion the Biden administration freed up in the hostage deal with Iran last month,” said Chairman McCaul. “No matter what assurances the Biden administration makes, the president of Iran has said he would use this money however he wants. Iran is the largest state sponsor of terror in the world. We cannot give them another $6 billion for their terror operations, which include ongoing support for Hamas’ unprovoked war against our ally Israel.”
Background:
The Iranian regime provides significant financial and material support to Hamas, as well as other terrorist organizations. By imposing immediate, mandatory sanctions on foreign financial institutions that facilitate the transfer of the restricted Iranian funds covered under the 2023 hostage deal, the No Funds for Iranian Terrorism Act would ensure the $6 billion remain permanently off-limits to the Iranian regime.
Cosigning the legislation are House Majority Leader Steve Scalise (R-LA), House Republican Conference Chair Elise Stefanik (R-NY), and Representatives Joe Wilson (R-SC), Cathy McMorris Rodgers (R-WA), Andy Barr (R-KY), Tim Burchett (R-TN), Ann Wagner (R-MO), Maria Salazar (R-FL), Tom Kean (R-NJ), Jim Baird (R-IN), Chris Smith (R-NJ), Darrell Issa (R-CA), Nathanial Moran (R-TX), John James (R-MI), Keith Self (R-TX), Amata Radewagen (AS-At Large), Brian Mast (R-FL), Rich McCormick (R-GA), Young Kim (R-CA), Ken Buck (R-CO), Cory Mills (R-FL), Bill Huizenga (R-MI), Ronny Jackson (R-TX), and Mike Lawler (R-NY).
Click here to read full bill text.
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