U.S. Senator Tim Scott (R-S.C.), Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs, released the following statement after the attack on Israel, calling for the Senate Banking Committee to hold a hearing with Secretary Janet Yellen and for a Senate investigation into the release of $6 billion to Iran:
“In the face of evil, we must use every tool, weapon, and economic sanction available to provide for our nation’s security and the security of Israel.
“As the top Republican on the Senate Banking Committee with direct jurisdiction over our economic national security tools, including sanctions, I will push for Chairman Brown to invite and urge Treasury Secretary Yellen to testify as soon as possible on the $6 billion recently transferred to Iran and any sanctions gaps we might have with respect to Iran.
“The Senate should also investigate what led the Biden administration to allow a transfer of $6 billion to Iran and how it could expect Iran to not use that money to continue to fuel terrorism. The American people and Israel, our closest ally in the Middle East, deserve transparency and answers.
“We should be signaling strength – not leniency – when it comes to Iran. That’s why now is the time to pass my Solidify Iran Sanctions Act and send the message that Iran should not expect U.S. sanctions to lapse.
“The unprecedented attack on Israel by Hamas – a U.S. designated terrorist organization – warrants the strongest response encompassing both military assistance and the most stringent economic sanctions. I look forward to thoroughly examining additional areas where we can hold these Iranian backed terrorist organizations accountable.”
