their leadership decided to bring this bill to the floor now in the lame-duck session when they know the president will veto it. perhaps my colleagues on the other side of the aisle know that in two short months they will no longer have the luxury of legislating without consequences. come january, we will have a president who has called the iran nuclear agreement the worst deal ever negotiated. like most of his other nonsense policies, mr. trump has claimed he will either more strictly enforce the agreement or negotiate, quote, a much better deal, unquote, or dismantle it altogether. we don't know and he doesn't know, so i'm going to bet that under the trump administration republicans will not be so eager to move legislation to unravel this agreement because, like the rest of us, they do not know how mr. trump will govern and because they know there is no other reasonable approach to curbing iran's

nuclear ambition short of military intervention. i therefore urge my colleagues to join me in opposing the bill and sending a strong message to the president-elect and our allies around the world that democrats remain committed to a strong u.s. engagement in the world and will not tolerate any attempt to undermine the iran nuclear deal or any other international arrangements that keep us safe. with that i reserve the balance of my time. . the speaker pro tempore: the gentleman from michigan is recognized. >> mr. speaker, at this time i'd like to yield five minutes to the distinguished gentleman and leader from this issue from illinois, mr. roskam, who is the author of house bill 5715. the speaker pro tempore: the gentleman is recognized. mr. roskam: thank you, mr. speaker. thank you, mr. huizenga. i want to thank you, mr. huizenga, and i want to thank chairman hensarling for their persistent work on this issue. my friend from california mentioned a minute ago her disappointment. well, i mean, if you want to talk about disappointment and

destabilizing of the deal, just look at what the iranians have done since the jcpoa passed. and by the way, a majority of the house of representatives and a majority of the united states senate, not on a partisan basis either, mr. speaker, voted against the jcpoa. let's put that into context. but, the president insisted, he moved along, and here we are. so, let's see what we can do about it. but before we fix it, let's look at what the iranians have done. they're the destabilizers. they've launched what have been iranian supplied rockets, launched at a u.s. naval ship. iran has fired rockets within 1,500 feet in december of last year of u.s. ships, numerous times. the irgc, patrol boats, have progress -- have harassed u.s. ships in the straits of hormuz. iran has launched numerous ballistic missile telfts in violation of the u.n. security council resolutions, they violated the jcp to, a by produce -- jcpoa by producing

excess heavy water. they continue to kidnap americans and hold them for ransom. let's put it where it lies. the destabilizing impact doesn't belong with the united states, doesn't belong with any statement by an american policyholder. the destabilizing nature belongs, mr. speaker, to the iranian regime. the mullahs themselves. so, our friend from california said she's disappointed. well, look, i mean, disappointment, get used to it. it's the nature of things. and the nature of the disappointment is that we now have american companies that are saying, you know what, let's go in and let's do business with a terrorist regime. how's that? let's just go make a buck. that's the scabble of this. the scandal -- scandal of this. the scandal is there are american companies, international companies, boeing, airbus, that are now linked heir own names with terror forever more. that's the scandal. and so what are we trying to

do? the gentlelady said that the ex-im elements of this -- i think she said it was a red herring. if not, it was words to that effect. no, it's not so. because if you look carefully at what the ex-im prohibition actually prohibits, mr. speaker, it prohibits the direct financing to the iranian regime. fine. if that's all this did, well, good, there's no reason to oppose it then. but of course that's not where the ex-im is actually limited. because here's what can happen. under current law, the ex-im bank can do a deal to the europeans, for example, and then what can happen then? that can be leased under current law to the iranians. this amendment, mr. huizenga's language, would prohibit that. that's what we're trying to do. and, look, think about the irony of this. you've got an administration that currently is telling americans it's a dangerous thing to go to iran. you are at risk of being kidnapped if you go to iran.

at the same time, they're also saying, we're going to help do you some business over there. that's ridiculous. it's absurd. it's contradictory. and it's indefense be. so here's the good news -- indefensible. here's the good news. the good news is we can do something about it. the other good news is this iran deal has a very short shelf life. because the president-elect has said he doesn't like it. and president obama didn't do the hard work of developing a national consensus on it. if he had, it would have been a treaty and a treaty that would have abounled the united states in permanency. but he didn't do that. why? because it was a bad idea and he couldn't sell it to congress. he went the easy way. did it basically by combecktive order. and what goes around comes around. we can do some good work today. we can move it out.

is president obama going to sign it? obviously not. but the not to say that that's what we should do. we know what we need to do. we need to make sure that american financial system is not complicit in this deal. we need to make sure that american taxpayers are not subsidizing this deal. i urge its passage and i thank the gentleman from michigan and i yield back. the speaker pro tempore: the gentleman reserves the balance of his time. the gentlelady from california is recognized. ms. waters: i now yield three minutes to the gentleman from connecticut, a member of the armed -- financial services committee, and the intelligence committee, mr. himes. the speaker pro tempore: the gentleman is recognized. mr. himes: thank you, mr. speaker. i thank the ranking member for the time. with all due respect to my friend from michigan, once again we find ourselves in this dreary and dangerous ritual of considering a bill which, without question, would cause us to violate our agreement under the jcpoa. and we get the same arguments about how bad the iranian regime is and we get the same misstatements like this is

president obama's deal. it's not president obama's deal. it is a deal of the united nations security council. of china, of russia, of great britain, of france, of germany and the u.k., and the rest of the world who combined working for a period of almost 15 years , hammered out a deal, and i say this as a member of the intelligence committee, which today has removed iran as a nuclear threat. and yet here again we are offered a bill that would compromise our obligations and almost certainly result in centrifuges spinning once again in tehran and that leading on to the very likely prospect of yet another middle eastern war. yes, iran is a sponsor of terrorism. yes, it's a bad place. will you get no argument from this side of the aisle that this is a bad regime. but once again, i remind my republican friends that their patron saint ronald reagan made a nuclear deal with the soviet union, also a sponsor of terrorism, an appalling regime. but ronald reagan was smart enough to know that you can

make a deal that makes everybody safer, even with some very bad people. ronald reagan, one thing i know as a member of the intelligence committee, is that what used to be a mortal national security threat to the united states, two to three months from breakout time, two to three months over which we would almost certainly be involved in yet another war in the middle east, has been taken off the table. and now the republicans not only think to scuttle that deal with all of the implications, but they do it by stopping an american company from selling a flagship american product around the world. if you use the commerce department's multiplier, the bill they are pushing today would result in 100,000 american jobs not created so that they can continue with this fetish of eliminating a deal which has made us safer. if there's any question about whether this has made us safer, let me again quote a general who is the chief of staff of the israeli defense force. he said, the deal has actually

removed the most serious danger to israel's existence for the foreseeable future. and greatly reduced the threat over the longer term. that's the chief of staff of the israeli defense force. but my friends in the republican party know better about what's good for israel. these sad charades end pretty soon, because the bluff has been called. president trump has said he will tear up the iran deal. when he does that, because this, of course, is not becoming law, the centrifuges will spin again. and to my friends on the other side of the aisle when the centrifuges are spinning, we and i will stand here and tell the american people why centrifuges are spinning again. and where we were two years ago when we thought we were going to war with iran, if we go to war with iran, when israeli planes are bombing iran, we will stand here and explain why we are now in another middle eastern war. we can avoid that by ending these charades and finally

accepting this deal. the speaker pro tempore: the gentleman's time has expired. ms. waters: i yield -- mr. himes: i yield to the ranking member. the speaker pro tempore: the gentleman reserves the balance of his time. the gentleman from michigan is recognized. mr. huizenga: mr. speaker, at this time i'd like to yield two minutes to the distinguished gentleman from ohio, who is the chairman of the small business committee, but also a previous chair of the subcommittee on the middle east with the foreign relations committee, mr. chabot of ohio. the speaker pro tempore: the gentleman is recognized. mr. chabot: thank you very much, mr. speaker. i rise in strong support of h.r. 5711, and i want to commend my colleagues, congressman huizenga and sherman, for authoring this bipartisan piece of legislation. it was once said that the west would sell its enemies the rope that would be used to hang itself with. well, because of the disastrously flawed iran deal, that's exactly what we're currently doing. that's why this legislation is so important. r. 5711 essentially prevents

the export or re-export of commercial passenger aircraft to the islamic republic of iran. this bill would cut off iran's means of delivering weapons to terrorist organizations like hamas and hezbollah and to syrian dictator bashar al-assad, a war criminal, who's responsible for the worst refugee crisis since the second world war. the truth is we wouldn't even need to be here today if the obama administration had just paid attention to the facts on the ground in the middle east. when negotiating the disastrous iran nuclear deal, despite knowing iran was the world's leading state sponsor of terrorism, president obama and secretary kerry permitted the sale of commercial aircraft to iran anyway. and incredibly, under current u.s. law, if we issued a license for iran air -- to purchase aircraft from an american manufacturer, and then

iran walked away from its commitment, u.s. taxpayers would have to foot the bill. for iran. in this case, that could be up to $70 billion. on the u.s. taxpayer. and given iran's multiple unpaid commitments over the years, that outrageous outcome is entirely possible. so for all the reasons that i mentioned and for reasons that have been state already by my colleagues, i would urge clear-minded people on both sides of the aisle to support this legislation and i yield back the balance of my time. the speaker pro tempore: the gentleman reserves the balance of his time. the gentlelady from california is recognized. ms. waters: i now yield five minutes to the gentleman from north carolina, a member, senior member of the house appropriations committee, mr. price. the speaker pro tempore: the gentleman is recognizes -- prized -- recognized -- recognized. mr. price: i rise in strong opposition to h.r. 5711. this legislation is only the latest misguide and politicized effort by the majority to

undermine the joint comprehensive plan of action, a historic agreement negotiated by the world's major powers, in order to keep iran from developing a nuclear weapon. simply put, enactment of h.r. 5711 would violate the united states government's obligations under the jcpoa, opening the door for iran to walk away from this agreement. it also threatens to undermine our credibility with our allies and negotiating partners. now, we must be vigilant. no one disagrees with this. we must be vigilant in ensuring iranian compliance with the terms of the jcpoa. we also should continue to hold iran to account for its violations of human rights, for its sponsorship of terrorism, and for its nonnuclear weapons development. -- non-nuclear weapons development. last night i supported, as did almost every member of this body, a clean re-authorization of the iranian sanctions

extension act, which guarantees congress' ability to snap back sanctions should iran violate the jcpoa. the re-authorization a also allows congress to take positive action on transition day, should it be verified that iran has used its nuclear capacity only for peaceful purposes. so the continued authorization of sanctions will allow the united states to continue to exert pressure on the iranian regime. the dangerous bill before us today would do just exactly the opposite. by directly blocking a specific provision of the jcpoa, namely the permissible sale of commercial passenger aircraft, this legislation would send a clear message to the iranian people that the united states does not negotiate in good faith, that we expect to have it both ways, with iran dismantling its nuclear facilities and getting nothing

in return. we must also remember, my colleagues, that the iran nuclear agreement is not just a bilateral agreement between iran and the united states. it is the product of years and years of negotiations among iran and the p-5 plus 1. that's the united king dom -- kingdom, china, russia, france, germany and the united states. the bill before us today would break faith with those negotiating partners in a reck l and dangerous way -- reckless and dangerous way. because of this agreement, the breakout time for iran to develop new weapons-grade material for a nuclear weapon wept from two to three months to a year or -- went from two to three months to a year or more. because of this agreement the international community has 24/7 access to iran's nuclear sites. because of this agreement we possess the enforcement mechanisms necessary to verify iran's compliance. .

iran has upheld its end of the bargain, why would we give up these exathes by failing to uphold ours. now is especially the time when the united states must keep its word, its word to our allies and the international community. now regardless of all this, it appears our republican colleagues are willing to jeopardize a political agreement. and willing to undermine the credibility of the united states and our allies on the international stage. instead of scoring political points they are trying to undo the president and we must ensure this agreement's success. for that reason, i urge colleagues to vote against this bill. the speaker pro tempore: the

gentleman reserves. the gentleman from michigan is recognized. mr. huizenga: i recognize mr. roth must for two minutes. the speaker pro tempore: recognized. mr. rothfus: despite the president's assurances, iran is a men ace to the middle east and threat to the united states. all of us, we need to take action to reduce the harm this rogue state and its accomplices can do. this takes very important steps in that effort by prohibiting the secretary of treasury by greenlighting aircraft. we are making it difficult that we know are used to ferry soldiers and weapons. is that such a bad idea? and by blocking ex-im

assistance, we are preventing he assistance to the state sponsor of terrorism. we can all agree that ex-im should never be used for this purpose. the government of iran continues to fund terrorist activities and involved in violent civil war and let us not forget the actions taken by the rebels. they fired missiles at u.s. navy warships. the american people cannot be complicit. we owe it to our constituents and our allies around the world to pass this legislation. i thank my colleagues from michigan, illinois. i urge support and i yield back. the speaker pro tempore: the gentleman reserves. ms. waters: i yield three minutes to the gentleman from texas, mr. doggett.

dog dog will this congress support this manufacturer of the jobs it creates that has already helped make america great. and those who see war with iran is the only way to restrain it from developing nuclear weapons. part of what makes trade so important to us is that countries that trade together are less likely to go to war with one another. the house today is being asked to block the sale of 80 boeing aircraft to update an aging and unsafe airline in iran. if this bill passes, that is bad news for a major american business and bad news to thousands of skilled workers across this country who won't see any part of what could be a $25 billion deal. it is great news for bonings'

major european competitor to get the work that these supporters would deny to boeing. and this is the latest of one effort after another to undermine the only way forward short of war to limit iran's ability to develop nuclear weapons. this realizization is why this week so many national security experts have urged mr. trump to reconsider to reverse his threat to break the promises that our country made in an international agreement. this week, the european union afffirmed its support for that international agreement. the six other countries that joined us in that international agreement are honoring their promises and we should do the same thing. what will keep boeing from flying high? it's the war hawks that fly high in undermining this important

pakistan that made this country safe. we need to win the american manufacturer. it means that nothing the threat of another american war will hold iran back from developing nuclear weapons. his is more than destabilizing the american work force. this will destabilize the middle east and jeopardize the middle st and the families of our allies. and this measure should be rejected. mr. huizenga: i yield to the gentleman from from north carolina, a member of the financial services committee. mr. pittenger: i voice my support for h.r. 5711 and thank the chairman for this very

important issue. this prohibits the secretary of the treasure for authorizing certain transactions in nnection with the exports or re-export of the commercial aircraft to iran. there is the primary sponsor of terrorism throughout the world is imperative that we hold iran accountable and do all we can to limit their abilities to promote this type of action and behavior. this bill confronts the same airline that has been sanctioned by the treasury department for transporting fighters and weapons on behalf of iran's revolutionary guard. it is beyond me how the administration can be ok with allowing access to iran's airplanes which would further their support of terrorism. i support this commonsense legislation when it was marked up and i'm proud to support it

today. thank you to the congressman for sponsoring this legislation. the speaker pro tempore: the gentlelady is recognized. ms. waters: i yield to representative ms. sheila jackson lee. ms. jackson lee: i thank the gentlelady from california for the leadership she gave this issue in the financial services committee and i rise today to offer my opposition to this bill for a number of reasons. but i will say it is interesting -- i heard my colleague from north carolina mention the soviet union and the interests that president reagan to make america safer in his time. interestingly in the backdrop of today one could not argue that

ussia has in its portfolio advocacy for terrorists and hacking into the united states as well as a blatant interference in the most recent presidential election. as i look to my colleagues speaking about what the president-elect will do, i would hope we he would not undermine the security of this legislation. this bill will be vetoed if it gets to president obama. this does not make the world safer and the sanctions are working including monitoring the nuclear capability of iran. and iran sanctions yesterday and that was the right thing to do, the opportunity of doing that. but this bill in particular flies in the face of realistic approach of how we do international engagement.

they have constrained nuclear programs. and it was dismanted and it subjects the program to monitoring requirements. it is working and in the national security interests of the united states to continue to meet our commitments under the jcpoa. our allies are depending on us. the word of the united states should mean something. the speaker pro tempore: the gentlelady's time has expired. ms. waters: i yield to the gentlelady an additional minute. ms. jackson lee: this will bill prohibits the involvement of u.s. financial institutions in the sale of commercial passengers aircraft, use that would put us air craft manufacturers whose access to

financing would not be subject to the same constraints. this isn't putting jobs above national security. this is allowing the end use to continue as we are standing for our national security. the sweeping nature of this legislation would have a chilling effect. and united states has a long tradition of remaining committed nd reversal of this diminishes our lead to globally. we can anticipate that this should this bill become law, our closest ally would be a violation. and the main thing of this bill is that it will douse the friendship and alliance that we are making for a peaceful

nonproliferation. this is a no-vote in order top provide for the national security. ifment the gentleman from michigan is recognized. cusecuse i'm happy to yield two minutes to the gentleman from arizona, mr. schweikert. the speaker pro tempore: the gentleman is recognized. mr. schweikert: and thank you for the couple minutes. this is one of those moments. has anyone read the four pages on the bill? great. in that case we should know this isn't about selling jets but using the american financial system to finance them. that's what the language of the bill is. think about this. we have spent the last six years talking over and over and over how we are going to keep the american financial system safe, how we are not going to do things that concentrate debt within our capital markets. let n wants to buy jets,

them go find bilateral agreements in other countries and let them show up the cash. let someone else put up the coverage on the lost h lost pieces on the latter of the financing. but this piece of legislation coming through the financial services committee is about protecting our financial system first from what we believe, many of us on the committee believe is going to turn into bad debt and become toxic within our financial markets. but secondly, do you really want united states financial system to fighting liquidity and financing for the leading state sponsor of terrorism in the

world? great question. and with that, i yield back. the speaker pro tempore: jabbed. the gentlewoman from california is recognized. ms. waters: i did want to share saddam hussein point with him. it's important to note that nothing in this legislation will keep new passenger aircraft out of the hand of iran. the bill only prevents boeing free selling civilian passenger aircraft to iran while fallen aircraft manufactures will be able to sell their passenger planes to iran since they won't need financial institutions to finance their deals. what is this? s this some kind of payback to

boeing? i'll yield. mr. huizenga: that's actually not true. airbus is subject to this because of the significant number of parts and material in the jets that they produce, so they would be subject to this as well as boeing. i yield back. ms. waters: reclaiming my time, there is nothing in this legislation that will keep new passenger aircraft out of the hands of iran. i reserve. the speaker pro tempore: the gentlewoman reserves. mr. huizenga: i yield two minutes to the distinguished the gentleman from texas, mr. williams, who is a member of the house financial services committee. . mr. williams: the state department recognizes the islamic republic of iran as a state sponsor of terrorism. ironically the president calls his deal with iran a foreign policy achievement. our commander in chief is proud of his plan that puts iran on

the path to getting a nuclear weapon. he's proud of his plan that condones and facilitates u.s. business with iran. in september, the treasury department authorized the sale of up to 97 airbus and boeing planes to iran. iran is more than just a label state sponsor of terrorism. iran uses its financial sector for international money laundering. iran has been a long-time supporter of the brutal assad regime in syria. it has supported a government that has killed hundreds of thousands of its own people. iran's leader has pledged to wipe america and israel off the map. but none of these facts matter to the obama administration. they will do whatever they can just to make a deal and ensure a legacy. mr. speaker, why are we rewarding and aiding a nations that contributed to so much disorder and destruction in the middle east? to me, it's simply a

no-brainer. we must not authorize u.s. aircraft sales to iran. i urge my colleagues to pass h.r. 5711, which would prohibit the treasury secretary from authorizing u.s. financing in connection with commercial passenger aircraft to iran. in god we trust. i yield back. the speaker pro tempore: the gentleman yields back the balance of his time. ms. waters: i'd like to share with you a portion of a letter from jay street. the speaker pro tempore: the gentlewoman from california is recognized. ms. waters: jay street calls on members of congress to oppose anti-jcpoa, bill restricting commercial aircraft sales. the last paragraph said, additionaly, the bill would not even achieve its intended objective of preventing iran from acquiring commercial aircraft. it would merely ensure that iran purchase them from a foreign producer, pointlessly denying jobs and income to working americans and communities across the country.

like so many of the legislative attempts by jcpoa opponents, to undermine or kill the agreement, this bill is just another cynical messaging exercise that hurts rather than helps america's essential interests, security and standing in the world. jay street urges congress to poe owes -- oppose this bill and reaffirm the united states' commitment to uphold its international obligations. i reserve the balance of my time. the speaker pro tempore: the gentlewoman reserves the balance of her time. the gentleman from michigan is recognized. mr. huizenga: mr. speaker, at this time i would like to recognize mr. poliquin of maine, distinguished member of the house financial services committee, for two minutes. the speaker pro tempore: the gentleman from maine is recognized. mr. poliquin: thank you, mr. speaker. thank you, mr. speaker very much. -- thank you, mr. speaker, very much. thank you, mr. huizenga, and mr. hensarling, for bringing this very important issue before the american people. it is a horrible idea to allow

the united states government to help the iranian government support terrorism. this bill helps make sure that does not happen. the world knows that the iranian government has a very ong history of using their state-owned iran air to transport weapons and military personnel for the revenlusionary guard. which -- revolutionary guard. which in turn trains, arms and funds terrorist organizations around the world. the revolutionary guard and the government of iran has american blood on its hands. it should be very concerning to everybody in this chamber, republicans and democrats, that the iranian leaders for years have chanted, death to america. and have avowed to wipe the state of israel off the map. the iranian government cannot

be trusted. now, the united states financial institutions should not be allowed to help the iranian government purchase aircraft and other equipment. proven to be used -- equipment proven to be used for military purposes. mr. speaker, this bill, 5711, is a good, commonsense bill. i implore everybody in this chamber, republicans and democrats, to do what's right and to stand up and vote yes for 5711, to make sure we do not assist the chief sponsor of terrorism in this world to conduct its activities. thank you, mr. speaker, i yield back the balance of my time. the speaker pro tempore: the gentleman yields back the balance of his time. ms. waters: mr. speaker, and members, i like mr. poliquin. he's a nice man. he always has a nice smile. but i don't trust him more than i trust jay street. i reserve the balance of my time.

the speaker pro tempore: the gentlewoman reserves the balance of her time. the gentleman from michigan. husehuse mr. speaker, with that i would -- mr. huizenga: mr. speaker, with that i would like to inquire of the balance of the time remaining on both sides. the speaker pro tempore: the gentleman has 10 1/2 minutes and the gentlewoman has 9 1/4 minutes. mr. huizenga: ok. thank you, mr. speaker. with that i would like to yield to my friend from arkansas, mr. hill, a member of the house financial services committee, and a former treasury official, two minutes. the speaker pro tempore: the gentleman from arkansas is recognized. mr. hill: i thank my friend from michigan. i rise in strong support of h.r. 5711, and i thank the gentleman from california on our committee, mr. sherman, for his leadership on this measure, consistently on matters concerning iran, as well as mr. roskam of illinois. i was proud to be a member of this past congress on the

financial services committee task force to investigate terrorism financing and during our hearings, mr. speaker, we heard numerous witnesses describe iran's support for terrorism and other evil activities. it's really staggering, mr. speaker, that we sit here tonight and we have a member of the other party suggest that iran is a friend to the united states. there is no friendship between iran and the united states or our allies. i think that is a stunning thing to say on the house floor. you have heard tonight about iran's direct involvement in conflicts in iraq, syria, yemen. their support of hamas, hezbollah. and one of the main methods they use to support their terrorist activities around the world is their flying commercial aircraft of the quds force around this world, supporting terrorism.

supplying assad in syria, who is responsible for the deaths of hundreds. this deal is not about blocking airplane sales, mr. speaker. this deal is about protecting taxpayers on financing airplane sales. protecting our banks in financing of airplane sales. in fact, mr. speaker, let the obama administration -- the obama administration has already provided the government of iran, the mullahs in iran, over $100 billion in freed-up cash and given them $1.7 billion in euros, in cash, on pallets. let them use that to buy an aircraft. let's assume they cost $150 million. they can buy several aircraft and pay cash thanks to the failed diplomacy of the obama administration. so, again, this legislation is about the belief that the united states should not directly support terrorism. and the killing of innocent civilians.

so i support it. mr. huizenga: i yield the gentleman 30 seconds. mr. hill: i thank the gentleman. i support this bill. it is the mission of iran to use these aircraft for nefarious purposes. we're -- we already have that guilt on our hands by the release of $100 billion and $1.7 billion in cash. let's not compound the errors of the past by opposing this bill. which will limit taxpayer risk and our financial sector risk at financing aircraft to iran. i yield back. the speaker pro tempore: the gentleman's time has expired. the gentlewoman from california. ms. waters: i reserve the balance of my time. the speaker pro tempore: the gentlewoman reserves. the gentleman from michigan. mr. huizenga: thank you, mr. speaker. may i inquire as to the balance of my time? the speaker pro tempore: you have eight minutes. mr. huizenga: all right. thank you. with that i would like to recognize distinguished member and friend, former member of the house financial services

committee, gentleman from illinois, mr. dold, for five minutes. the speaker pro tempore: the gentleman from illinois is recognized. mr. dold: thank you, mr. speaker. i want to thank my good friend from michigan for yielding. i just find it fascinating that here we are again. listen, we can talk about the jcpoa this iran nuclear deal, which i think is a historic mistake, which will haunt us for generations. there's no question about that. if anybody was unclear about where i stand or where i think many in this body stand, let me just simply say i think this will be a historic mistake that will haunt us. ultimately when we're talking about the world's greatest state sponsor of terror, what's amazing to me is the fact that this is not even up for debate in the administration. the administration will tell you, yep, iran is the world's greatest state sponsor of terror. this agreement, if we are -- if our destination was to say, you know what we want to ensure that iran is never able to get a nuclear weapon, this deal all but ensures it. bob menendez, democrat over in the senate, said those very words.

prime minister netanyahu says this is a historic mistake. so, yes, we can talk about some of the others over there that believe thanks good thing, but ultimately we realize this is a bad thing. this is a bad thing because, frankly, and as we talk about quoting jay street on the floor, i personally, i want to say that i will trust bruce poliquin from maine, my colleague on the financial services committee, on when it comes to a financing bill, yes, i trust bruce poliquin a heck of a lot more than i trust jay street. jay street, frankly, they are in the tank for the other side. they're not an objective body, i believe. and ultimately as we look at this bill, mr. speaker, this bill doesn't prevent the sale of aircraft. as much as i'd like to prevent the sale of aircraft to the world's greatest state sponsor of terror, that can use the aircraft to send supplies and soldiers, because we know that iran is sending money and supplies to hezbollah, hamas, to assad and syria. frankly, this administration

will tell you the same thing. this is a bill that prevents the financing and ultimately, as we look at how do we protect taxpayer dollars, how do we protect the deposits of millions of americans that go in main street and deposit in their local banks, we're just saying, you can't use financing to go finance the planes that are going over into iran. the world's greatest state sponsor of terror. if they want to pay cash, it would be one thing to say, i don't think you've got any cash. wait, we know they've got cash. why? because we just sent an unmarked plane with unmarked bills full of cash. ultimately we know for the release of hostages. we've got $1.7 billion that we know is there. we have $100 billion worth of sanctions relief. i'm counting on the fact that they've got the resources to spend. so what this is doing is this is trying to protect the american taxpayer, and ultimately what we do know, the administration agrees to authorize the export of civilian aircrafts to iran. that still can happen.

this bill does not change that one eye ota. what it does -- iota. what it does do is say you cannot use u.s. financing for those sales. ultimately -- ultimately, i think that's a good thing. when they go back and want to talk about it, this is just something about the jcpoa, the iran deal, what's interesting to me, mr. speaker, is that the iran deal, the only thing that was bipartisan in the iran deal, was its opposition in this body to that deal. frankly, i think we ought to be doing everything in our power to make sure that we keep and hold iran accountable and we should not be financing planes that go in there. because ultimately we know they've already fired missiles. they've already broken their agreements. they've fired weapons over at u.s. ships. they've captured u.s. sailors. they're taking hostages. this is not a good actor. we should be doing everything in our power to make sure that we are holding them accountable and ratcheting up sanctions. we should not make it easier for them to be able to purchase planes. frankly, we've got all

manufacturers that are out there that have parts in the united states that would be implicated with this, so this is not singling out a stingle u.s. carrier. we want to talk about pro-growth, but what we don't want to do is talk about pro-growth opportunities that are going to help the world's greatest state sponsor of terror. this is a mistake. if we do not pass this piece of legislation. i am confident that this bipartisan piece of legislation is going to be able to pass this house. my hope is that the senate will take it up. i don't believe that the president will sign it and i think that will be a mistake. but that should not prevent this body from doing the right thing. so, mr. speaker, i'm going to go right back to where we started at the beginning. the world's greatest state sponsor of terror should not be aided by the u.s. taxpayer, by our banking system, in order to finance planes that we really don't know what they're going to do with them. but what we dough know is that iran -- do know is that iran a -- is a bad actor and they're

going to continue to be the world's greatest state sponsor of terror. i'm going to urge my colleagues, support this bill. it's a commonsense piece of bipartisan legislation. i want to thank the chairman for his work on it. i want to thank chairman hensarling as well. i want to thank mr. roskam and i want to thank everybody here that is going to stand up united to say, this is going to be something that we need to hold iran accountable to. with that, mr. speaker, i'll yield back. the speaker pro tempore: the gentleman yields back the alance of his time. ms. waters: i was surprised to hear the gentleman from illinois repeating some of the outrageous statements that mr. trump made during the campaign where he talked about the airplane carrying bill yongs of dollars to iran. with that -- mr. speaker, i have no further requests for time and prepared to close and i would yield myself the remainder of my ime.

president-elect trump will face a daunting array of international challenges, the raining in g is russian corruption and dealing with the civil wars in iraq and syria. the islamic state, though it is in retreat in iraq and syria has demonstrated its ability to behind the confinings and sponsor attacks in asia, europe and the united states. mofere, the nuclear threat posed y north korea will require a policy. so if ever there is a time that the u.s. should be afirling our commitment to the international agreements that promote our stability and security in a global environment. we should be working to reassure

our allies and the rest of the world that the u.s. is committed to internationalism and to shaping and preserving the world economic and political order. yet, republicans are intent on playing politics and continuing their attempts to undermine the iran nuclear agreement and put the globe at risk. over the past few months, this house passed republican bills to reinstate a program denying access to u.s. dollars to prohibit the u.s. from buying heavy water from iran. a key component with some nuclear reactors and prohibit ran some payments to iran which would put the u.s. in violation of its international obligations under the algiers accord which has been in effect under both

republican and democratic administrations. the white house has issued a statement of policy making it clear that the president would veto the bill before us today, stating, quote, the united states has a long tradition of remaining faithful to our commitment to our international partners and reversal of this principle undercuts or credibility and diminishes to lead globally and the alliances in implementing the jcpoa, unquote. we know this would violate the joint comprehensive plan of action that is committed to the sale of commercial planes of iran by prohibiting our financial institutions by acilitying those sales and put manufacturers at a disadvantage

whose access to financing would be subject to the same constraint. the legislation is concerning because it removed the president's national security waiverer with regard to the export import bank's. and the never exercised its authority by removing the president's discretion and leverage on critical national security matters would be a serious mistake. i strongly oppose this bill that iran and to exercise global leadership and i urge my colleagues to do the same. i yield back the balance of my time. the gentlewoman yields. the gentleman from michigan. mr. huizenga: thank you, mr. speaker. and i yield myself such time as

i may consume. mr. speaker, to quote the great american president, ronald reagan, there you go again, attack the president-elect and try to throw out red herrings. the bill we have before us has the secretaryles, of the treasury may not authorize the transaction. section 102, revocation, secretary of the treasury authorized any transaction described under section 101 gf enactment of this title, such authorization is revoked. section 2, title 2, no ex-im insistence for terrorism. it says there is a prohibition on section 202. the financing that would benefit iran. that means direct financing. that would be subheader a, indirect financing, meaning you

can't have a third party get that lending from the export-import bank. that's subhead b and cancellation of approved financing. this bill is not that complicated and that bill does not cite any particular committee or any particular company of selling aircraft to iran. add, ply says, as i might secretary jack lew said in february of this year, there will be no u.s. financial institution financing this deal. and we have added that second section, that second title that says there will be no use of the u.s. taxpayer finance export import bank. you heard a tax on the

president-elect and the tax on the export import bank and whether it's going to be good or bad for u.s. employers and employees. the simple fact is, mr. speaker, that this bill, 5711, says we are not going to allow u.s. financial institutions and u.s. financial institutions only to be used to finance these deals and not allow the ex-im to be used directly or indirectly to finance that deal. iran can put this deal together with other banks in asia, europe, anywhere else in the world but not here in the united states and not here using taxpayer dollars. and with that, i yield back. the speaker pro tempore: for what purpose does the gentleman from michigan seek recognition? mr. huizenga: i have an

amendment at the desk. the speaker pro tempore: the clerk will designate the amendment. the clerk: amendment offered by mr. huizenga of michigan. the speaker pro tempore: the gentleman from michigan and a member opposed each will control five minutes. the chair recognizes the gentleman from michigan. mr. huizenga: thank you, mr. speaker. at this point, my amendment adds a short title and clarifies the nature of prohibited iranian transactions and it provides for a sunset of the bill's provision upon certification that iran has ceased support of international terrorism. with that, i reserve the balance of my time. the speaker pro tempore: the gentleman reserves the balance of his time. for what purpose does the gentleman from washington -- >> i claim time in opposition to this amendment and the underlying bill. the key change made by this amendment is to strike the

phrase ordinarily incident to and insert in connection with. when is a temperature of art ed by the treasury's office, companies doing business with a license know what their means. in connection with is a much broader term not clearly defined, mr. speaker and if this amendment were to pass, exactly or aten you ated of a connection would be permissible? we don't know. i believe the chilling effect of this language would go beyond the import of this legislation and this is to olympic a single, legal, full compliant and scandal-free transaction that supports or national security and american manufacturing.

if this bill became law, we would be less safe. the united states committed in the iran deal to allow the sale of commercial aircraft to iran as well as associated services, associated services is specifically defined in the relevant section of the agreement to include financial services of the kind u.s. banks would be specifically blocked under this bill. mr. heck: it's hard to think of anything that would be a clear violation of our commitments, an action that would give iran to walk away from the whole thing, making us less safe. it is a clear plaque-and-white violation of the jcpoa. and what is our plan b if congress provokes the collapse of this agreement?

contradicts? we don't have one. think of this. we had to convince a lieutenant of countries to maintain a united front for u.n. sanctions to be effective. if we choose to burn it down, are my colleagues under any illusion that we go back to our partners and say to iran, well, let's start over. and why wouldn't iran be happy in the unraveling of the coalition that brought them to the table and buildup its nuclear program again? they would be likely to. let's be clear. yes, we continue to have numerous differences with iran but as we counter their behavior, i know i sleep better

knowing the iran deal prevents them from obtaining a nuclear bomb or threaten our allies. and frankly, if iran is going to get new planes and nothing in this bill will stop them, the choice is not whether it's going to be boeing or airbus. i sleep better that you have american eyes on that plane for parts repair and american hands doing the maintenance to guard against the diversion from legitimate civil aviation use. it keeps us more safe if these are american-made planes. even if we ignore all the compelling evidence that this will make us less safe, this bill fails spectacularly. in fact, i'm certain, it would

hurt our own aerospace industry more than iran. it's easy for foreign countries to get around this bill. but american companies don't have an option unless you prefer that the proceeds from the sale be kept onshore. they never see a dime of re- investment and this transaction could go to other countries. this bill is an attack on key pillar of sport including the exporters, namely the ex-im bank. despite the fact that they have policies against that and there is law against that and the ex-im said they won't do this and boeing has said in writing they won't do this. this isn't belts and suspenders but flattening your pants to your flesh.

mr. speaker, i urge my colleagues toe reject this bill that undermines foundational elements of our national security and in so doing, i'm reminded what president reagan said, it's not what you don't know that bothers me. it's what you think ain't so. i yield back. the speaker pro tempore: the gentleman from michigan is recognized. mr. huizenga: my colleague from washington, who has been a big proponent of export import bank and particularly company that he was talking to knows this would apply to any aircraft that the treasury authorizes for iran and the 17 airbuses. and he brought up offshore profits. acording to bloomberg, boeing has 800 million in profits

stashed offshon and boeing is pursuing these deals with the japanese banks and the company is less worried about this bill and that financing than my friend from washington is. so, this is simply about saying that are iran does notville direct access to the u.s. financial system. . i don't know why my colleagues on the other side of the aisle are so freaked out by. that this is simply making sure that our banking system is not going to finance this deal indirectly or directly. and the use of the export-import bank would be prohibited. this amendment says it's a sunset to this bill, upon presidential certification that iran has ceased support of international terrorism. a goal we all h