Hensarling Votes to Bring Financial Transparency to Iranian Regime
WASHINGTON – Today, the House passed, and Congressman Jeb Hensarling (R-TX) voted for, the Iranian Leadership Asset Transparency Act (H.R. 5461). This bipartisan bill originated in the House Financial Services Committee, which Congressman Hensarling chairs. H.R. 5461 will bring transparency to the financial assets held by Iran’s top political and military leaders and shed light on 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.”
Specifically, the Iranian Leadership Asset Transparency Act requires 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, 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.
Congressman Hensarling spoke on the House Floor today in support of the bill. Click here for video of his remarks.