Representatives Ted Budd (R-NC) and Kyrsten Sinema (D-AZ) introduced the National Strategy for Combating Terrorist and Other Illicit Financing Act. This bipartisan legislation directs the Secretary of the Treasury, in coordination with other federal agencies, to establish a comprehensive strategy to combat the financing of terrorism and related forms of illicit finance.
“A goal without a plan is just a wish,” said Rep. Budd. “Our goal is to eradicate the international illicit financing networks that are the lynchpin of any terrorist group’s, criminal organization’s, or rogue state’s operations, but we don’t have a unified national plan. This bill directs the Secretary of the Treasury to provide that plan, a vital first step towards addressing the threat posed by the growing sophistication of illicit financing networks.”
“Terrorist organizations pose a serious threat to our national security, and it is critical that we cut off the funding that supports these groups,” said Congresswoman Sinema. “I regularly hear from Arizonans who are concerned about the safety of their families and fellow Americans. This legislation is a commonsense solution that ensures the United States denies funding to terrorists and protects America and our allies.”