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WASHINGTON – Rep. Virginia Foxx, R-N.C., today voted in favor of legislation to increase congressional oversight and prohibit sanctions relief for institutions and individuals supporting terrorism or Iran's ballistic missile program.

“It’s clear that the Iran nuclear agreement has strengthened that country’s extremist regime,” said Foxx. “This legislation holds the Obama administration accountable for the assurances they made that American sanctions on Iran for its support of terrorism, its human rights abuses and its ballistic missile program will continue to be fully enforced.”

H.R. 3662, the Iran Terror Finance Transparency Act, would block the president from offering sanctions relief to an individual or bank until certifying that such entity has not conducted a significant transaction with a terrorist organization, the Islamic Revolutionary Guard Corps or in support of either Iran’s ballistic missile or its conventional weapons programs.
 
The legislation would also prohibit the Obama administration from lifting Iran’s designation as a “Jurisdiction of Primary Money Laundering Concern” until it certifies that the Government of Iran is no longer supporting terrorism, pursuing weapons of mass destruction and their means of delivery or engaging in illicit financial activities. 
 
Additionally H.R. 3662 would provide Congress greater insight into how the Treasury Department licenses specific U.S. companies to do business in Iran and would apply the Congressional Review Act to provide Congress the ability to disapprove of Iran-related changes to the Code of Federal Regulations. Finally the bill would clarify that Iran’s proxies - Hezbollah, Hamas and the Palestinian Islamic Jihad - are defined as terrorist organizations for the purposes of financial sanctions against Iran.

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U.S. Rep. Virginia Foxx represents North Carolina’s 5th Congressional District and is the elected Republican Conference Secretary. Dr. Foxx is the chair of the House Education and the Workforce Subcommittee on Higher Education and serves as Vice Chair of the House Rules Committee.