Vladimir Putin Transparency Act Passes House
ORLANDO, FL – Today the Vladimir Putin Transparency Act, introduced by Rep. Val Demings (FL-10) and Rep. Elise M. Stefanik (NY-21), passed the House of Representatives. The legislation directs the U.S. intelligence community to report to Congress regarding the financial assets and hidden networks used by Russian President Vladimir Putin. Congresswoman Demings' remarks on the floor can be found here.
Said Rep. Demings, “every American has the right to a safe country and a secure democracy where their voice matters. This bipartisan legislation is a crucial first step to ensure that the rights of the American people matter more than corrupt Russian money.
“To protect our national security and our democracy, it’s vital that we investigate and expose the Russian president’s financial networks and cut off the illegal funding for these criminal attacks against our country. We will not stand for this attempt to override the voices of the American people. It’s time to hold him accountable. This legislation will expose the corrupt finances being used to fund attacks against our democracy.”
Said Rep. Stefanik, “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. I'm thrilled that this important, bipartisan legislation was swiftly brought to the floor and passed, and I thank my colleagues for supporting mine and Rep. Demings’ efforts. This legislation is an important step to ensuring the security of our elections and upholding democracy around the world.”
The legislation can be found here. It requires the creation and submission to Congress of a report on the personal net worth of and assets owned by Russian President Vladimir Putin.
Rep. Demings is a member of the House Intelligence, Judiciary, and Homeland Security Committees, as well as the Congressional Election Protection Task Force. Rep. Stefanik is a member of the House Armed Services and Intelligence Committees.
Together, they previouly introduced the bipartisan Defend Against Russian Disinformation Act to strengthen federal cybersecurity, support intelligence gathering, and enhance NATO military activities. That bill, which was vetted by bipartisan national security experts, recommended investigating the financial assets and networks of the Russian ruling class. The Vladimir Putin Transparency Act builds on this previous work.