March 12, 2019 - Issue: Vol. 165, No. 44 — Daily Edition116th Congress (2019 - 2020) - 1st Session
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VLADIMIR PUTIN TRANSPARENCY ACT; Congressional Record Vol. 165, No. 44
(House of Representatives - March 12, 2019)
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[Pages H2662-H2664] From the Congressional Record Online through the Government Publishing Office [www.gpo.gov] {time} 1300 VLADIMIR PUTIN TRANSPARENCY ACT Mrs. DEMINGS. Madam Speaker, I move to suspend the rules and pass the bill (H.R. 1404) to strengthen the United States response to Russian interference by providing transparency on the corruption of Russian President Vladimir Putin, as amended. The Clerk read the title of the bill. The text of the bill is as follows: H.R. 1404 Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Vladimir Putin Transparency Act''. SEC. 2. FINDINGS. Congress finds the following: (1) According an Intelligence Community Assessment dated January 6, 2017, ``Russian President Vladimir Putin ordered an influence campaign in 2016 aimed at the US presidential election. Russia's goals were to undermine public faith in the US democratic process . . . Moscow's influence campaign followed a Russian messaging strategy that blends covert intelligence operations--such as cyber activity--with overt efforts by Russian Government agencies, state-funded media, third-party intermediaries, and paid social media users or `trolls.' ''. (2) According to the Washington Post, official, public reports from the Russian government put Putin's average annual income between 2011 and 2016 at approximately $112,000. But outside experts nevertheless have alleged that Putin's true net worth is in the billions--suggesting his extensive corruption and connection to money laundering and other activities undertaken order to enrich Putin unjustly and to hide his true financial condition from the public. SEC. 3. ASSESSMENT EXPOSING THE CORRUPTION OF VLADIMIR PUTIN. (a) Sense of Congress.--It is the sense of Congress that the United States should do more to expose the corruption of Vladimir Putin, whose ill-gotten wealth is perhaps the most powerful global symbol of his dishonesty and his persistent efforts to undermine the rule of law and democracy in the Russian Federation. (b) Assessment.--Not later than 180 days after the date of the enactment of this Act, the Director of National Intelligence, in coordination with the Secretary of Treasury and the Secretary of State, shall submit to the appropriate congressional committees an assessment, based on all sources of intelligence, on the net worth and financial and other assets of Russian President Vladimir Putin and his family members, legitimate as well as illegitimate, including-- (1) the estimated net worth of Vladimir Putin and his family members; (2) a description of their legitimately and illegitimately obtained assets, including all real, personal and intellectual property, [[Page H2663]] bank or investment or similar accounts, and any other financial or business interests or holdings, including those outside of Russia; (3) the details of the legitimately and illegitimately obtained assets, including real, personal and intellectual property, bank or investment or similar accounts, and any other financial or business interests or holdings, including those outside of Russia, that are owned or controlled by, accessible to, or otherwise maintained for the benefit of Vladimir Putin, including their nature, location, manner of acquisition, value, and publicly named owner (if other than Vladimir Putin); (4) the methods used by Vladimir Putin or others acting at his direction, with his knowledge, or for his benefit, to conceal Putin's interest in his accounts, holdings, or other assets, including the establishment of ``front'' or shell companies and the use of intermediaries; and (5) an identification of the most significant senior Russian political figures, oligarchs, and any other persons who have engaged in activity intended to conceal the true financial condition of Vladimir Putin. (c) Form.--The assessment required under subsection (b) shall be submitted either-- (1) in unclassified form to the extent consistent with the protection of intelligence sources and methods, and may include a classified annex; or (2) simultaneously as both an unclassified version and a classified version. (d) Appropriate Congressional Committees Defined.--In this section, the term ``appropriate congressional committees'' means-- (1) the Select Committee on Intelligence, the Committee on Foreign Relations, the Committee on Banking, Housing, and Urban Affairs, and the Committee on Finance of the Senate; and (2) the Permanent Select Committee on Intelligence, Committee on Foreign Affairs, the Committee on Financial Services, and the Committee on Ways and Means of the House of Representatives. The SPEAKER pro tempore. Pursuant to the rule, the gentlewoman from Florida (Mrs. Demings) and the gentlewoman from New York (Ms. Stefanik) each will control 20 minutes. The Chair recognizes the gentlewoman from Florida. General Leave Mrs. DEMINGS. Madam Speaker, I ask unanimous consent that Members have 5 legislative days in which to revise and extend their remarks and to include extraneous material on the bill under consideration. The SPEAKER pro tempore. Is there objection to the request of the gentlewoman from Florida? There was no objection. Mrs. DEMINGS. Madam Speaker, I yield myself such time as I may consume. Madam Speaker, every American has the right to a secure democracy where their voice matters. As Members of Congress, our national security must be a top priority. We must investigate and expose Russia's financial networks and cut off any illegal funding that supports criminal attacks against the United States of America. This bipartisan legislation is a crucial first step to ensure that the rights of the American people matter more than dark and corrupt Russian money. It has been said that money talks, but it is our job to keep it from speaking over the American people. Last week the House of Representatives passed H.R. 1, historic reforms to get big money out of politics. But we haven't done nearly enough to prevent foreign powers and foreign money from attacking our democracy. Russia, the country that once had the ability to provide a decent life for its people, has chosen to strip their wealth as they watch their wealth disappear overseas into hidden accounts. These corrupt oligarchs are a cautionary tale on how working people can be cheated if left unchecked. These corrupt bands of individuals, led by Vladimir Putin, have mounted a massive asymmetric attack against the United States. America has the greatest military in the world, but the Russians have figured out that if they have any chance at victory, they must fight us another way: undermine our elections, spread fear and unrest, and sow discord through racism and other divisive tactics. What they don't understand, Madam Speaker, is that we take pride in our democracy. We may have policy differences, and we might have policy disagreements, sometimes quite strongly, but we all know that our democratic form of government, a government of the people, by the people, and for the people is our greatest strength and weapon against any foe. We do believe in this country that every voice matters. Foreign nationals are banned from contributing to U.S. elections, but multiple Kremlin-connected Americans have funneled millions of dollars into political action, wielding massive influence in our democracy, and Vladimir Putin is the king of this corrupt money. Putin's protests are generally delivered with a smirk and accusations of fake news, but his discomfort with revealing his assets is clearly simmering below the surface. It is telling that after Ms. Stefanik and I introduced this legislation, we were both attacked by Russian state media. What is Putin afraid of? Perhaps the former KGB operative is well-aware of the poor long-term prospects for gangsters and autocrats who are unmasked before their impoverished countrymen, or he fears uncovering his shadowy networks that prop up dictators and human rights abusers around the world in his quest to subvert world order. Likely, he and his cronies are desperate to obscure their billions in an attempt to shield themselves from sanctions. But, Madam Speaker, no matter the root of his fear, our obligation is to shine a light on his illicit networks. It is time that we hold him accountable. This legislation will expose the corrupt finances being used to fund attacks against our democracy. Madam Speaker, in closing, I call upon the words of our 35th President: ``Let every nation know, whether it wishes us well or ill, that we shall pay any price, bear any burden, meet any hardship, support any friend, oppose any foe in order to assure the survival and the success of liberty.'' Madam Speaker, I urge the passage of this legislation, and I reserve the balance of my time. House of Representatives, Committee on Financial Services, Washington, DC, March 8, 2019. Hon. Adam Schiff, Chairman, House Permanent Select Committee on Intelligence, Washington, DC. Dear Mr. Chairman: I am writing concerning H.R. 1404, the ``Vladimir Putin Transparency Act.'' As a result of your having consulted with the Committee on Financial Services concerning provisions in the bill that fall within our Rule X jurisdiction, I agree to forgo action on the bill so that it may proceed expeditiously to the House floor. The Committee on Financial Services takes this action with our mutual understanding that, by foregoing consideration of H.R. 1404 at this time, we do not waive any jurisdiction over the subject matter contained in this or similar legislation, and that our Committee will be appropriately consulted and involved as this or similar legislation moves forward. Our Committee also reserves the right to seek appointment of an appropriate number of conferees to any House-Senate conference involving this or similar legislation and request your support for any such request. Finally, I would appreciate your response to this letter confirming this understanding with respect to H.R. 1404 and would ask that a copy of our exchange of letters on this matter be included in the Congressional Record. Sincerely, Maxine Waters, Chairwoman. ____ House of Representatives, Committee on Foreign Affairs, Washington, DC, March 12, 2019. Hon. Adam Schiff, Chairman, House Permanent Select Committee on Intelligence, Washington, DC. Dear Mr. Chairman: This is to advise you that the Committee on Foreign Affairs has now had an opportunity to review H.R. 1404, the ``Vladimir Putin Transparency Act,'' which falls within our shared Rule X jurisdiction. I appreciate that you have consulted with us on this legislation. The Foreign Affairs Committee has no objection to considering this bill on the House floor. To expedite that consideration, the Foreign Affairs Committee is willing to waive referral, with the understanding that we do not thereby waive any future jurisdictional claim over the legislation or its subject matter. In the event a House-Senate conference on this or similar legislation is convened, the Foreign Affairs Committee reserves the right to request an appropriate number of conferees to address any concerns with this bill or related provisions that may arise in conference. Please place this letter into the Congressional Record during consideration of the measure on the House floor. Thank you for the cooperation spirit in which you have worked regarding this matter and others between our committees. Sincerely, Eliot L. Engel, Chairman, House Committee on Foreign Affairs. [[Page H2664]] ____ Permanent Select Committee on Intelligence, House of Representatives, March 8, 2019. Hon. Maxine Waters, Chairwoman, Committee on Financial Services, House of Representatives, Washington, DC. Hon. Eliot Engel, Chairman, Committee on Foreign Affairs, House of Representatives, Washington, DC. Dear Chairwoman Waters and Chairman Engel: I write in reply to your letters regarding H.R. 1404, the Vladimir Putin Transparency Act. I appreciate your willingness to work cooperatively on this legislation. I acknowledge that provisions of the bill fall within the jurisdiction of the Committees on Financial Services and Foreign Affairs; and that your Committees will not take up H.R. 1404 formally. I further agree that your Committees' inaction regarding the bill will not waive any future jurisdictional claims over matters addressed in H.R. 1404 which fall within your Committees' jurisdiction under Rule X of the Rules of Procedure for the House of Representatives for the 116th Congress. At your request, I lastly will ensure that our exchange of letters is included in the Congressional Record during floor consideration of the bill. Thank you again for your cooperation regarding the legislation. I look forward to continuing to work with both of you as the measure moves through the legislative process. Sincerely, Adam B. Schiff, Chairman. Ms. STEFANIK. Madam Speaker, I yield myself such time as I may consume. Madam Speaker, today I rise in strong support of H.R. 1404, the Vladimir Putin Transparency Act. According to the 2017 Intelligence Community Assessment produced by the CIA, NSA, the FBI, and an indictment issued by the Attorney General in 2018, it is clear that Russian actors conspired to interfere and influence U.S. political processes and the Presidential election in 2016. This assessment stated that ``Russian President Vladimir Putin ordered an influence campaign in 2016 aimed at the U.S. Presidential election. Russia's goals were to undermine public faith in the U.S. democratic process.'' Madam Speaker, the Russian Government has been known to employ a system of corruption and illicit financial ties as a tool for consolidating its domestic political control and projecting power abroad to weaken not only the United States but other democratic countries as well. That is why I proudly co-sponsored H.R. 1404. The bill would require that within 180 days of enactment, the Director of National Intelligence, in coordination with the Secretary of the Treasury and the Secretary of State, shall submit a congressional report on the personal net worth and assets owned by Russian President Vladimir Putin. The report would also include accounts, holdings, shell companies, and intermediaries, and identify senior Russian political figures and oligarchs who facilitate corrupt practices. Vladimir Putin and his corrupt allies seek to weaken democracies globally by consolidating political control through unethical means, and they must be brought to account for their actions. This bipartisan legislation is an important step to ensuring the security of our elections and upholding democracy around the world. I urge my colleagues to support this commonsense bill. I also want to thank my colleague, Representative Val Demings, for her leadership on this issue. I am proud to work across the aisle with her to pass this important bill. Madam Speaker, in closing, as I have noted in my remarks, this is important bipartisan legislation. It is about transparency, it is about accountability, and it is about standing up to the corrupt practices of Russian President Vladimir Putin. This is bipartisan, commonsense legislation, and I urge my colleagues to support this bill on the floor. Madam Speaker, I yield back the balance of my time. Mrs. DEMINGS. Madam Speaker, in closing, H.R. 1404 will shine a light on Vladimir Putin's financial networks that have stripped the Russian Federation of its resources and left the Russian people in poverty. It will also empower Congress, the intelligence community, and our allies to crack down on cross-border corruption. I want to thank my colleague on the Permanent Select Committee on Intelligence, Representative Stefanik, for joining me in this important legislation. Additionally, I want to thank the hardworking staff on both sides of the aisle on the Permanent Select Committee on Intelligence and the Foreign Affairs Committee for their input on this critical legislation. Madam Speaker, I yield back the balance of my time. The SPEAKER pro tempore. The question is on the motion offered by the gentlewoman from Florida (Mrs. Demings) that the House suspend the rules and pass the bill, H.R. 1404, as amended. The question was taken; and (two-thirds being in the affirmative) the rules were suspended and the bill, as amended, was passed. A motion to reconsider was laid on the table. ____________________
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