21st Century Peace Through Strength Act

Floor Speech

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Mr. NUNN of Iowa. Madam Chair, I yield myself such time as I may consume.

Iran is the largest sponsor of state terrorism. Their tactics of terror know no bounds, and they will stop at nothing to destroy our strongest allies in the Middle East.

Indeed a week ago today, we saw them unleash a barrage of weapons intended to kill thousands: Christians, Jews, Muslims. No discretion in between, but for a 99 percent repulse rate by Israel, America, and our allies, we stood firm.

This isn't a kinetic world. As an Air Force officer, we have done this many times, but we must also combat terrorism at its source: its funding.

As a counterintelligence officer, I know the enemy must be fought on the battlefield. But behind the scenes, we must also commit to crippling them with their lack of ability to gain financial services that they then supply the funding for Hamas, Hezbollah, Houthi rebels, and the IRGC.

My amendment will require the U.S. Government to diligently review all of Iranian assets above $5 million to accurately understand where their funding is coming from, where it is going, and who is benefiting from it.

Right now, Congress lacks critical information surrounding U.S. Treasury's nonenforcement of current sanctions. It will allow more than $80 billion in illicit oil sales alone to come into this country.

This amendment requires transparency so Congress and the American people never have to hear about billions potentially being transferred to Iran through the press and not through this administration.

This amendment also gives Congress knowledge that we require to effectively ensure oversight and draft targeted legislation to ensure the Iranian regime doesn't have access to the funds necessary for it to finance terror.

Finally, this amendment holds Iran directly accountable for their direct funding of terrorism, ensuring that Iran does not have access to the financial assets to enable their reign of terror throughout the Middle East and to those right here in the United States.

Madam Chair, I urge my colleagues to support this amendment.

Congress must be aware of Treasury Department's relaxation and nonenforcement of current sanctions on Iran today, and this amendment should be implemented immediately.

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Mr. NUNN of Iowa. Madam Chair, I appreciate the gentleman's comments. I would state the Constitution establishes Congress as a coequal branch. Time delays alone cannot be the reason to not move forward immediately.

Madam Chair, I yield 30 seconds to the gentleman from Texas (Mr. McCaul) for his great work in defending Israel and supporting a sanction regime in Iran.

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Mr. NUNN of Iowa. Madam Chair, I yield 30 seconds to the gentleman from Arkansas (Mr. Hill).

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Mr. NUNN of Iowa. Madam Chair, I yield 30 seconds to the gentleman from New York (Mr. Lawler).

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Mr. NUNN of Iowa. Madam Chair, I yield 30 seconds to the gentleman from Nebraska (Mr. Bacon), my colleague and wing commander.

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Mr. NUNN of Iowa. Madam Chair, today we stand at a crossroads on a precipice.

The result is the effect of an Iranian regime that is directly threatening not just our allies in the Middle East, but has access to funds that directly threaten us.

While I respect my colleagues on the other side of the aisle, I would ask that they come forward at this important juncture to make sure that these funds are restricted from the use of terrorism that flows directly to harm those American soldiers who lost their lives just months ago, fellow veterans and combat in arms.

I thank the 9/11 Families, the Foundation for Defense Fund, and all of those who have come forward to support this very important measure.

Madam Chair, I yield back the balance of my time.

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