Congresswoman Laura Richardson Applauds the House Committee on Foreign Affairs for Passing H.R. 1905, The Iran Threat Reduction Act

Mr. Speaker, I rise today to applaud the House Committee on Foreign Affairs for their work earlier this week in unanimously passing H.R. 1905, the Iran Threat Reduction Act out of committee. This bipartisan legislation is critical to the protection of the American people and our allies around the world.

I would like to thank Chairman ILEANA ROS-LEHTINEN and Ranking Member BERMAN for their hard work in shepherding this bill through the Committee, and I am confident that House leadership will bring this bill to the floor without delay.

Mr. Speaker, I believe it is imperative that the United States take the lead in opposing Iran's strong quest to produce nuclear weapons. Such a development would produce the greatest destabilizing element into that volatile region the world has ever known.

The recent discovery of a plot to assassinate the Saudi Ambassador to the United States on American soil is but the latest reminder of the urgent need for the United States to take forceful and effective action to ensure that Iran does not succeed in developing the capability to produce nuclear weapons.

Last year, Congress passed H.R. 2194, the Iran Sanctions, Accountability and Divestment Act. This legislation marked the most comprehensive Iran sanctions legislation ever passed by Congress.

While current sanctions on Iran have impeded Iran's ability to successfully develop a nuclear weapon, most experts agree that Iran will have nuclear capabilities in the next two to three years if tougher sanctions are not imposed.

According to a recent report released by the International Atomic Energy Agency, Iran has a stockpile of low-enriched uranium that if further enriched could produce three nuclear weapons.

Earlier this week, I sent letters to Chairman ROS-LEHTINEN, Ranking Member BERMAN and House leadership urging them to consider H.R. 1905 and sanctions on the Central Bank of Iran. I am encouraged by the Committee's swift action and hopeful that this bill will swiftly be brought to the floor for consideration in the whole House.

H.R. 1905 strongly reflects the demands of the international community that tougher sanctions must be placed on Iranian leaders to end their nuclear program. If enacted, H.R. 1905 would increase sanctions on human rights violators in Iran, impose tougher sanctions on the Islamic Revolutionary Guard Corps (IRGC), and would finally codify the U.S. policy to prevent Iran from developing unconventional weapons and ballistic missiles. This bill takes steps to peacefully thwart Iran's nuclear aspirations.

During the markup of this bill, an amendment offered by Ranking Member BERMAN to strengthen sanctions against Iran's Central Bank was unanimously agreed to. The Berman Amendment strengthens H.R. 1905 by inserting language that directs the President to determine whether the Central Bank of Iran is engaged in sanctionable activity.

By sanctioning the Central Bank of Iran, the United States would set a strong example for countries around the world that depend on a geopolitically stable Middle East for their own security and prosperity. Imposing tougher sanctions on the Iranian economy will demonstrate that the international community will not tolerate Iran's continued refusal to end their nuclear enrichment program.

Specifically, the Berman Amendment directs the President of the United States to determine whether the Central Bank of Iran has:

• Assisted Iran's WMD or missile programs, including proliferation of WMD to other governments;
• Financed Iran's procurement of advanced conventional weapons;
• Provided financial services for the Islamic Revolutionary Guard Corps; or
• Facilitated Iran's support of international terrorism.

Should the President make the determination that the Central Bank of Iran is involved in any of these areas, the bill would require him to apply sanctions under the International Emergency Economic Powers Act. These sanctions would ensure that any foreign bank involved in significant transactions with the Central Bank of Iran are excluded from doing business with the U.S. If this bill is passed by the whole House, the President will have 30 days to make this determination.

Mr. Speaker, history has taught us that strong sanctions can bring about peaceful change. A generation ago, Congress passed the Anti-Apartheid Act which led to the end of the apartheid regime and brought about a peaceful revolution resulting in the new democratic South Africa.

While the Arab Spring has deflected a lot of attention away from Iran's nuclear enrichment program, H.R. 1905 will help to refocus our efforts on appropriately addressing this critical issue. Leaders in the Iranian government have shown repeatedly that they are unwilling to comply with international demands to scrap their nuclear program.

For these reasons, Mr. Speaker, I strongly support this bill and look forward to voting for it when it comes to the floor for final passage.