McHenry on H.R. 6323: When it Comes to Iran, the Status Quo is Simply Unsustainable
Washington,
April 16, 2024 -
Today, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), led debate on the House floor in support of H.R. 6323, the Iran Counterterrorism Act of 2023.
H.R. 6323, sponsored by Rep. Young Kim (CA-40), requires Iran to cease support for acts of international terrorism as a condition for the President to waive secondary sanctions imposed on the regime in Tehran. The bill also provides for a congressional review process for national security interest waivers of these sanctions if Iran continues its support for global terror.
Watch Chairman McHenry’s remarks here or by clicking the image above.
Read Chairman McHenry’s remarks as prepared for delivery:
“Mr Speaker, over the weekend, we witnessed Iran’s unprecedented attack on our greatest middle eastern ally and the lone democracy in the region—Israel.
“Tehran struck our friends in Israel with a swarm of missiles and drone attacks launched from Iranian soil. Thankfully, most of the attack was intercepted by Israeli defense systems with support from the U.S. and other partners.
“This assault was just the latest sign that the ayatollahs seek to destroy Israel from all sides. In addition to this direct attack, Iran has sought to encircle our Israeli allies through its support of Hamas and Hezbollah.
“Hamas’s terrorist strike last October on innocent Israeli civilians was a wake-up call for many around the world. It underscored the brutality of Iranian proxies. In response, my friend and colleague from California, Mrs. Kim, authored the bill we are considering today—H.R. 6323, the Iran Counterterrorism Act.
“This legislation will provide Congress a stronger role in any future sanctions relief for Iran.
“Under current law, the U.S. imposes so-called “secondary sanctions” against foreign banks that deal with Iran, restricting the ayatollahs’ access to hard currency. At the same time, the President enjoys certain waiver authorities that he can invoke for national security purposes.
“For example, last September, while Hamas was preparing to wage war against Israel, the Biden Administration issued a waiver that allowed for $6 billion in Iranian funds to be unfrozen.
“But this is not a Democratic or Republican issue. Administrations from both parties have used waivers in the past. Additionally, Congress routinely enacts waiver authorities so the Executive Branch can use discretion in order to convince bad actors to change their behavior.
“The issue is, when it comes to Iran, the status quo is simply unsustainable. Congresswoman Kim’s bill recognizes this.
“The regime in Tehran is so hostile—and the threat it poses to Israeli and American interests is so high—that lawmakers need a greater say when waivers grant the ayatollahs access to the global financial system.
“H.R. 6323 ensures U.S. sanctions against Iran can only be waived if Iran has ceased support for international terrorism.
“If the administration cannot certify that Iran is no longer financing terrorism, the bill also provides Congress with a chance to review any national security interest waivers of these sanctions.
“When H.R. 6323 was passed by the Financial Services Committee, it received bipartisan support because Members are no longer comfortable delegating blanket waiver authority that benefits Iran. Tehran’s continued aggression—from its efforts to destroy Israel, to its pursuit of nuclear weapons, to its export of drone technologies to Russia—demonstrates that our waiver policies need closer scrutiny.
“Congresswoman Kim’s legislation draws on a similar congressional review process already in place for certain Russia sanctions. This review was established under legislation from 2017 that passed both the House and Senate with near unanimous support.
“I am hopeful that our Democratic colleagues will take the threat posed by Iran as seriously as they did Russia when Congress enacted that law.
“Mr Speaker, let me just add that Mrs. Kim retains the sanctions exemptions we already have in place for humanitarian assistance to ordinary Iranians. Her bill focuses on targeting Tehran’s ability to finance terrorism, not on punishing Iranian civilians.
“H.R. 6323 is about ensuring that waivers benefitting the Iranian government receive an appropriate vetting in Congress. After the attacks inflicted on our Israeli allies over the past seven months, surely we can all support this commonsense measure.
“I want to thank Mrs. Kim for her work on this legislation. I urge my colleagues to support H.R. 6323 and reserve the balance of my time.”
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