GOP-Led House Passes Series Of Bills Aimed To Squeeze Iran After Drone And Missile Attack On Israel

The Republican-led House has passed a series of bills aimed at financially pressuring Iran in response to a drone and missile attack on Israel.

What Happened: The House approved three bills under a fast-track process, which requires two-thirds support for passage. These bills primarily aim to impose financial penalties on Iran and its supporters, reported The Hill.

The legislation was passed in response to a massive Iranian aerial assault on Israel, which was repelled by Israel in partnership with the U.S., the U.K., France, and Middle Eastern allies.

The approved bills include a measure to terminate the tax-exempt status of nonprofit organizations supporting terrorist groups, a bill aimed at disrupting the Chinese purchase of Iranian oil and petroleum products, and an effort to prevent the Iranian government from using the U.S. financial system.

Despite the bills’ largely noncontroversial nature and majority support from Democrats, criticism has been leveled at Republicans for their delay in bringing the Senate-passed $95 billion national security supplemental to a vote. This supplemental includes aid for Israel, Ukraine, and Taiwan.

Rep. Brad Schneider (D-Ill.) expressed support for the bill terminating the tax-exempt status of terrorist-supporting organizations, which he co-sponsored with Rep. David Kustoff (R-Tenn.). However, Schneider urged Republicans to bring the national security supplemental legislation to the floor.

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Why It Matters: The House’s decision comes in the wake of escalating tensions in the Middle East. Following an Iranian missile attack on Israel, the Biden administration praised Israel’s successful defense and urged caution in any retaliatory actions. The U.S. reaffirmed its commitment to Israel’s defense, while also making it clear that it would not participate in any offensive Israeli response against Iran.

Israel’s war cabinet convened to deliberate their nation’s response, causing shockwaves through markets. Stocks sharply flipped to the red on headlines that Israel is mulling a retaliatory move against Iran, while gold surged sharply amid rising safe haven demand.

The United States warned Iran of serious consequences if it continues to act against the US, Israel, or their allies. Robert Wood, the US Deputy Ambassador to the United Nations, strongly condemned Iran's recent attack on Israel.

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