[Congressional Record Volume 165, Number 44 (Tuesday, March 12, 2019)]
[House]
[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.
____________________