[Congressional Record Volume 153, Number 124 (Tuesday, July 31, 2007)]
[Extensions of Remarks]
[Page E1658]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                    SUDAN AND IRAN DIVESTMENT BILLS

                                 ______
                                 

                     HON. DEBBIE WASSERMAN SCHULTZ

                               of florida

                    in the house of representatives

                         Monday, July 30, 2007

  Ms. WASSERMAN SCHULTZ. Madam Speaker, I rise in support of three 
bills under consideration today in the House of Representatives: the 
Darfur Accountability and Divestment Act (H.R. 180), the Iran Sanctions 
Enabling Act (H.R. 2347), and a bill to amend the Iran Sanctions Act of 
1996 (H.R. 957).
  With a combination of sanctions and divestment, these important 
pieces of legislation demonstrate our nation's commitment to human 
rights and the rule of law with our actions and not just our words. The 
governments of Sudan and Iran must understand the consequences of their 
deplorable and inhumane policies.
  As the genocide continues in the Darfur region of Sudan, many state 
and local governments have chosen not to invest in companies that do 
business in Sudan. Until the government of Sudan takes transparent 
steps to end the violence and increase humanitarian access to the 
refugees in Darfur, divestment remains an essential tool for pressuring 
the Sudanese government. The Darfur Accountability and Divestment Act 
supports efforts by local government and universities to divest from 
companies that conduct business in Sudan. Additionally, it prohibits 
the federal government from entering into contracts with these 
companies as well. Coupled with diplomatic pressure, the Darfur 
Accountability and Divestment Act is a significant step in the fight 
against the horrific genocide taking place in this region of the world.
  Two additional bills, the Iran Sanctions Enabling Act and a bill to 
amend the Iran Sanctions Act of 1996, seek to increase pressure on the 
government of Iran to halt its uranium enrichment program. The Iran 
Sanctions Enabling Act authorizes state and local governments to divest 
from companies with $20 million or more invested in Iran's energy 
industry. A second bill amends the Iran Sanctions Act of 1996 to expand 
and clarify the entities against which sanctions may be imposed. As 
Iran relies heavily on foreign investment in its energy sector, these 
bills will effectively suffocate Iran's resources.
  The Federal legislation paves the way for states to make smart, 
conscious decisions regarding the investment of employee pension funds 
and other public investments. As the first state to enact divestment 
legislation, the State of Florida has taken the lead in protecting 
state interests from reprehensible regimes. I applaud the Florida 
legislature and all of the community organizations that pressed for 
this important initiative.
  Madam Speaker, the powerful economic tool of divestment makes it 
clear to Sudan's complicit government and Iran's egomaniacal leadership 
that the United States and the American people stand strong in the 
battle against genocide, extremism, and corrupt governance. I 
congratulate the Members of the House of Representatives for their work 
on these issues and urge my colleagues to support these three important 
bills.

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