The House passed a bill requiring the Department of Treasury to disclose the assets of Iran’s top political and military leaders in a 282-143 vote Wednesday.
The Iranian Leadership Asset Transparency Act, spearheaded by Republican Rep. Bruce Poliquin of Maine, would force the agency to provide a report to Congress assets under control, how they were acquired and how they are being spent.
Proponents of the measure said it ensures businesses and financial institutions don’t inadvertently fund terrorism or become involved in money laundering.
“Iran’s top government leadership, including the Supreme Leader and the military and political leaders, have amassed substantial wealth from their tyrannical rule of their people. Reports have indicated these funds are being used to support and sponsor terrorism,” Poliquin said in a statement. “I am proud Democrats and Republicans in the House acted today to move forward this important legislation to make these assets public so the world knows where the money is going.”
Republicans have repeatedly expressed concerns over the Iran nuclear agreement, arguing it will further destabilize the region and finance acts of terror.
Despite the bill passing in a bipartisan manner, a number of Democrats and the White House slammed the measure for its attempt to undermine the Iran deal.
“Meeting the requirements of this bill would place a very real strain on the Treasury Department and intelligence community, and we need to think carefully about the national security implications of diverting resources away from the Treasury investigators who are tasked with implementing current sanctions on Iran and uncovering illicit conduct across the globe,” California Democrat Maxine Waters said on the House Floor.
The president threatened to veto the legislation, noting the administration will oppose any legislation that could interfere with the Iran deal.
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