Press Releases

House Votes This Week on Bipartisan Bill Bringing Financial Transparency to Iranian Regime


Washington, September 20, 2016 -

WASHINGTON -- The House this week is scheduled to debate a bipartisan bill approved by the Financial Services Committee that will bring transparency to the financial assets held by Iran’s top political and military leaders and how these assets contribute to Iran’s funding of terrorism.

“The Islamic Republic of Iran is identified as both the world’s foremost state sponsor of terrorism and a country of ‘primary concern’ for money laundering by the United States.  It is also characterized by high levels of official corruption and substantial involvement of its security forces – particularly the Islamic Revolutionary Guard Corps – in that nation’s business sector,” said Chairman Jeb Hensarling (R-TX).  “Because of this volatile mix of terrorism, corruption and wealth, it is vitally important for us to clearly understand the assets held by Iran’s most powerful people. That is what the ‘Iranian Leadership Asset Transparency Act’ will allow us to do.”

H.R. 5461, the Iranian Leadership Asset Transparency Act

Sponsor:  Rep. Bruce Poliquin (R-ME)

The bill would require the Treasury Secretary to develop and post online a list estimating the “funds and assets” held by senior Iranian political and military leaders, along with a description of how they acquired the assets and how those assets are employed. The report would be posted on the Treasury Department’s website in English, but also translated into the three main languages used inside Iran, and would be available in any of those forms in a way that is easy to download and share.

The bill passed the Financial Services Committee with bipartisan support on June 16 by a vote of 39-20.


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