[Congressional Record Volume 145, Number 36 (Monday, March 8, 1999)]
[Senate]
[Pages S2416-S2417]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. COVERDELL (for himself, Mrs. Feinstein, Mr. DeWine. Mr. 
        Torricelli, and Mr. Lott):
  S. 565. A bill to provide for the treatment of the actions of certain 
foreign narcotics traffickers as an unusual and extraordinary threat to 
the United States for purposes of the International Emergency Economic 
Powers Act; to the Committee on Banking, Housing, and Urban Affairs.


treatment of the actions of certain foreign narcotics traffickers as an 
         unusual and extraordinary threat to the United States

  Mr. COVERDELL. Mr. President, I am pleased to join my colleague from 
California, Senator Feinstein, in introducing a bill that targets one 
of America's most dangerous and real national security threats--the 
international drug cartels. I am also pleased that Senator DeWine, 
Senator Lott, and Senator Torricelli have agreed to cosponsor this 
important legislation. These drug cartels, through their involvement in 
illegal drug trafficking, money laundering, arms trafficking and the 
violence related to these activities, pose a threat to the political 
and economic stability of countries in this hemisphere. More 
importantly they threaten the citizens of this country by preying on 
our children.

[[Page S2417]]

  That is why it is so important that we introduce this bill today--to 
combat the drug cartels and move one step forward in the war on drugs. 
This bill codifies and expand a 1995 Executive Order created under the 
International Emergency Economic Powers Act (IEEPA), which targeted 
Colombia drug traffickers. The bill will expand the existing Executive 
Order to include other foreign drug traffickers considered a threat to 
our national security. The bill freezes the assets of identified drug 
traffickers, their associates, and their related businesses. It also 
prohibits these individuals and organizations from conducting any 
financial or commercial dealings with the United States.
  Our goal is to isolate the leaders of the drug cartels and prevent 
them from doing business with the United States. By stopping the drug 
kingpins's ability to benefit from the U.S. market and from practices 
that enable them to sell drugs to our nation's children, we are taking 
an important step to eliminate the scourge of illegal drugs.
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