I’m writing in support of the PEACE Act (H.R. 4346). This bill does three things that will help Ukraine and punish Russia at no cost to taxpayers. It gives the Treasury Department the ability to stop foreign banks that continue to fund Putin’s war machine from using the U.S. financial system, accelerates repurposing Russia's frozen assets here, and authorizes Ukraine to purchase defense articles when the Russian funds are seized and transferred to Ukraine. This bill has the capacity to force Putin to the negotiating table, and has already passed the Financial Services Committee last July by a resounding 53-1 vote.
Last week, during floor debate preceding the successful passage of the discharged Ukraine Support Act, Republicans repeatedly argued that they prefer the PEACE Act and passing it through regular order. I ask that you do what is in your power to urge House leadership to do just that. The PEACE Act has been floor-ready for almost one year now, all that remains is for it to be passed by the House and sent to the Senate for its consideration.