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Cmte Financial Services (R)
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Committee Acts to Prevent Sale of U.S. Passenger Aircraft to Iran

Washington, Jul 13 -

WASHINGTON – The Financial Services Committee today approved a series of bills that are designed to prevent the sale of commercial passenger aircraft to Iran, the world’s foremost state sponsor of terrorism according to the U.S. State Department.

“These bills are all part of a bipartisan effort to ensure that Iran does not have access to the U.S. financial system and that taxpayers and depositors are not forced to pick up the tab for these risky arrangements.  They are about taking every possible step to ensure that American made aircraft are never used in pursuit of ending the lives of Americans or our allies,” said Chairman Jeb Hensarling (R-TX). 

Below are the bills approved by the Committee today and their vote totals:

H.R. 5729 – would prohibit the secretary of the Treasury from issuing certain licenses in connection with the export or re-export of a commercial passenger aircraft to the Islamic Republic of Iran, and require annual reports by the Secretary of the Treasury and the Export-Import Bank on financing issues related to the sale or lease of such a commercial passenger aircraft or spare parts for such aircraft.

This bill, which was sponsored by Rep. Robert Pitttenger (R-NC), passed the committee 33-21.

H.R.5711 – would prohibit the Secretary of the Treasury from authorizing certain transactions by a U.S. financial institution in connection with the export or re-export of a commercial passenger aircraft to the Islamic Republic of Iran.

This bill, which was sponsored by Rep. Bill Huizenga (R-MI), passed the committee 33-21.

H.R.5715 – would make permanent a direct financing prohibition for Ex-Im assistance to the government of Iran, prohibit indirect Ex-Im financing for Iran, and stop any Ex-Im financing if the Bank discovers that its support has been used to facilitate the export or re-export of aircraft to Iran.

This bill, which was sponsored Rep. Peter Roskam (R-IL) and co-sponsored by Rep. Brad Sherman (D-CA), passed the committee 32-21.