The U.S. House Financial Services Committee on Tuesday voted 30-19 to advance legislation sponsored by U.S. Rep. Young Kim (R-CA) that aims to counter the Iranian regime’s malign influence.
The committee approved the Iran Counterterrorism Act of 2023, H.R. 6323, which Rep. Kim introduced on Nov. 9 to restore congressional authority over Iran sanctions.
“We cannot afford to embolden Iran — the world’s largest state sponsor of terrorism — any further,” Rep. Kim said. “Congress must restore its constitutional authority on sanctions policy and have a say if the administration is determined to waive sanctions.”
If enacted, H.R. 6323 would prohibit the administration from issuing a waiver on Iran sanctions unless either a joint resolution is passed by Congress, or the administration can certify that the Iranian regime has ceased to provide support for international terrorist groups like Hamas and Hezbollah, according to a bill summary provided by Rep. Kim’s staff.
Additionally, H.R. 6323 would permit Congress to debate a joint resolution of disapproval of a waiver, the summary says.
“The Oct. 7 attack by Hamas against the people of Israel underscored the dangers posed by Iran, which has long been classified by the State Department as the world’s leading state sponsor of terrorism,” said Rep. Kim in support of her bill prior to the committee’s vote.
The congresswoman pointed out that prior to those attacks, the Biden administration issued waivers that allowed the transfer of $6 billion in Iranian funds from South Korea to Qatar in exchange for five American hostages.
“While we are all pleased that these hostages have been freed, members on both sides of the aisle have criticized the waivers that led to this ransom payment,” she said. “Even the administration has had second thoughts; following Hamas’s attack on Israel, the Deputy Secretary of the Treasury announced that these funds are not leaving Qatar anytime soon.”
Rep. Kim added that both houses of Congress are considering bills to formally rescind the waivers that unfroze the $6 billion. “My bill, however, will help ensure that future waivers can also be scrutinized by Congress before it’s too late and the money is out the door,” she said.
H.R. 6323 is still under consideration by the U.S. House Foreign Affairs Committee.