Holland Reporter

The House Committee on Financial Services has passed the No U.S. Financing for Iran Act of 2023, a crucial piece of legislation introduced by Congressman Bill Huizenga (R-MI). The primary aim of this act is to sever the Iranian Government's access to the U.S. financial system and protect Americans from inadvertently financing terrorism. Additionally, the bill mandates the Treasury Secretary to oppose IMF assistance to Iran and prevent the allocation of Special Drawing Rights to the country.

During the committee's discussion and subsequent passing of the No U.S. Financing for Iran Act, Congressman Huizenga addressed the importance of this bill. He stated, "My bill tightens our grip on the ayatollahs, on the government itself, but licenses for humanitarian aid to ordinary Iranians will continue to be permitted." Congressman Huizenga emphasized that the intention behind this act is to ensure that funds deposited by Americans in U.S. banks or entrusted to the government through tax dollars are not used to undermine the security of the United States or its allies.

The No U.S. Financing for Iran Act received overwhelming support from both sides of the aisle, with a bipartisan vote of 34 to 12 in favor of the bill. Seven Democrats joined 27 Republicans in supporting this measure, demonstrating the broad consensus on the need to hold Iran accountable for its actions.

The passing of this act is seen as a significant step in tightening the grip on the Iranian government and preventing the flow of funds to terrorist organizations such as Hamas. By cutting off Iran's access to the U.S. financial system, the United States aims to disrupt the channels through which the Iranian government supports terrorism.

The No U.S. Financing for Iran Act is a common-sense approach to safeguarding the interests of the American people. Congressman Huizenga's efforts to curtail Iran's influence and protect the nation's security have garnered bipartisan support. This bill represents a crucial measure in holding Iran accountable for its actions and ensuring that American taxpayers' funds are not inadvertently used to finance terrorism.

The No U.S. Financing for Iran Act will now proceed to the full House for consideration. Its passage through committee with bipartisan support underscores the importance of this legislation in safeguarding national security and preventing the financing of terrorism.

Click this link to access more information: https://huizenga.house.gov/news/documentsingle.aspx?DocumentID=402738