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Congressman Dave Trott

Representing the 11th District of Michigan

Trott Introduces Legislation to Stop Obama Administration From Giving Iran Access to the U.S. Dollar

April 12, 2016
Press Release

WASHINGTON, DC:  U.S. Representative Dave Trott (MI-11) today introduced legislation to stop the Obama Administration from pursuing any plan to allow Iran access to the U.S. dollar, as has been recently reported.

“The fact that the Obama Administration’s won’t definitively rule out offering Iran access to the U.S. dollar and America’s financial system is unacceptable. After this White House made unbelievable concessions in the Iranian nuclear deal, citizens in Southeast Michigan and throughout the nation don’t want to see more giveaways to the world’s leading sponsor of terrorism.  Congress must take action to stop the Administration from continuing to pursue further concessions to Iran.  The legislation I’ve authored today makes one thing very clear—Iran will not get access to the U.S. dollar,” said Rep. Trott, Michigan’s only member of the House Committee on Foreign Affairs.

The legislation, authored by Rep. Trott, prohibits the U.S. Department of Treasury from issuing a license to allow foreign banks to issue the U.S. Dollar to Iran. Media outlets have reported that the Obama Administration has been considering possibly opening access to the U.S. dollar and financial system to Iran. Secretary of State John Kerry went as far as stating recently that Iran “absolutely…deserves the benefits of the deal they struck…” when asked about Iran gaining access to dollars and more investment. The Obama Administration has attempted to walk back these reports but have stopped short of unequivocally stating Iran would never have access to U.S. dollars. 

“There can be no hedging or political games with this issue—Iran must not be given access to the U.S. financial system either directly or indirectly. The President continues to follow a foreign policy based on the notion that if we are just nice to Iran it will somehow change its ways—but that’s a misguided and dangerous mindset. A stronger Iran will mean nothing but more support for international terrorism.  With millions of American still out of work, it’s time President Obama stops looking for ways to bolster Iran’s economy and instead focuses on a stronger national defense and economic growth here in America,” added Rep. Trott.

Since coming to Congress, Rep. Trott has been Michigan’s leading voice in Congress opposing the Obama Administration’s nuclear agreement with Iran and he has consistently warned that this agreement will pave the way for the Iranian regime to develop atomic weapons.