Vote Explanation for H.R. 5711 — No U.S. Financing for Iran Act
I voted against H.R. 5711, the No U.S. Financing for Iran Act, because of the significant harm it would cause to the Iran Nuclear Deal that was agreed to by the United States and our international partners in 2015.
Despite a proven record of reversing Iran’s nuclear program, Congressional Republicans continue efforts to dismantle this historic achievement and bring us closer to confrontation with Iran. The deal is already proving successful and remains the best chance we have of preventing Iran from getting a nuclear weapon.
If passed into law, H.R. 5711 would prohibit the U.S. Department of the Treasury from authorizing financial transactions by U.S. banks for sales of commercial aircraft to Iran, including a pending $25 billion sale by Boeing. Following provisions agreed to in the nuclear deal, Boeing gained Treasury approval in September to sell its first aircraft to Iran in almost 40 years. Due to the extensive sanctions architecture imposed on Iran, it has one of the worst airline safety records in the world with over 200 accidents involving Iranian aircraft over the past 25 years, leading to more than 2,000 deaths. Its commercial fleet age is also more than twice the international average.
The modification of commercial aircraft export restrictions was among the principal incentives included in the Iranian nuclear deal and does not harm the national security interests of the U.S. or our allies.
By passing HR 5711 into law, this incentive that was agreed to would be removed, thereby materially undermining the continued viability of the Iran Deal. Furthermore, it would create significant uncertainty regarding the U.S. commitment to continue upholding the agreement and to similar international agreements. Doing so would jeopardize our most powerful and viable tool preventing Iran from acquiring a nuclear weapon.
To date, Republicans have yet to propose any alternative to the Iran Deal, so dismantling it now would essentially authorize Iran to obtain a nuclear weapon. Do we really want that?