NFTC, USA*Engage Express Deep Disappointment Over Senate Approval of Iran Sanctions Bill"

Friday, 29 January 2010

Washington,DC – The NationalForeign Trade Council (NFTC) and USA*Engage today expressed disappointment overthe Senate’s approval of S. 2799, the Comprehensive Iran Sanctions,Accountability, & Divestment Act. The associations also urged lawmakers to fix the most counterproductivefeatures of the legislation in conference.

 

“We areextremely disappointed that the Senate has approved additional unilateralsanctions on Iran for a number of reasons. The bill is at cross purposes withthe Administration’s multilateral strategy as regards Iran; as many analystshave pointed out, if implemented, the additional sanctions would reinforce thepower of those in Iran opposed to negotiations and potentially alienate ourallies,” said NFTC President and USA*Engage Co-Chair Bill Reinsch.

 

“The billis also counterproductive to the goal of generating jobs, economic growth andincreasing trade, given the broad scope of the proposed sanctions and theunintended consequences of the proposed penalties for the global tradecommunity,” said USA*Engage Director Richard Sawaya.  “We urge Congress to overhaul these most troublingprovisions of the bill when it goes to conference, and we call on theAdministration to exert its leadership and consult with Congress.”

 

Earlierthis week, the NFTC and USA*Engage joined seven other leading businessassociations in sending a letter to National Security Advisor James Jones and NationalEconomic Council Director Lawrence Summers, urging them to weigh in withCongress to eliminate the Senate bill and its companion in the House, H.R.2194.

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