Taylor Force Martyr Payment Prevention Act of 2023

Hozzl · 2023-12-15T15:55:20Z

Explore the details of House Bill 1408 Taylor Force Martyr Payment Prevention Act of 2023 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

12/15/2023, 3:55 PM

Summary of Bill HR 1408

Bill 118 HR 1408, also known as the Taylor Force Martyr Payment Prevention Act of 2023, is a piece of legislation introduced in the US Congress with the aim of preventing the Palestinian Authority from making payments to individuals and their families who have committed acts of terrorism.

The bill is named after Taylor Force, a US Army veteran who was tragically killed in a terrorist attack in Israel in 2016. The Palestinian Authority has a policy of providing financial support to individuals who carry out attacks against Israelis, including payments to the families of those who are killed in the process.

The Taylor Force Martyr Payment Prevention Act seeks to put pressure on the Palestinian Authority to end this practice by cutting off US aid to the Palestinian Authority until they cease making these payments. The bill also calls for the US government to take steps to ensure that American taxpayer dollars are not being used to fund terrorism. Supporters of the bill argue that it is important for the US to take a stand against terrorism and to hold the Palestinian Authority accountable for its support of individuals who commit violent acts. Critics, however, have raised concerns about the potential impact of cutting off aid to the Palestinian Authority on the stability of the region and the prospects for peace. Overall, the Taylor Force Martyr Payment Prevention Act is a controversial piece of legislation that highlights the complex and sensitive nature of US foreign policy in the Middle East. It remains to be seen how the bill will progress through Congress and what its ultimate impact will be on US relations with the Palestinian Authority.

Congressional Summary of HR 1408

Taylor Force Martyr Payment Prevention Act of 2023

This bill expands the institutional factors the Department of the Treasury must consider when making a finding that a foreign financial institution is of primary money laundering concern and is therefore subject to special measures, including the prohibition of opening or maintaining correspondent accounts in U.S financial institutions. Specifically, Treasury must consider (1) the extent to which an institution knowingly provides financial services to Hamas, or to an agent of Hamas; and (2) the extent to which an institution, transaction, or type of account is used to facilitate or promote payments for certain acts of terrorism against U.S. and Israeli citizens.

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Current Status of Bill HR 1408

Bill HR 1408 is currently in the status of Bill Introduced since March 7, 2023. Bill HR 1408 was introduced during Congress 118 and was introduced to the House on March 7, 2023. Bill HR 1408's most recent activity was Referred to the House Committee on Financial Services. as of March 7, 2023

Bipartisan Support of Bill HR 1408

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

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Policy Area and Potential Impact of Bill HR 1408

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill HR 1408

Taylor Force Martyr Payment Prevention Act of 2023

To deter foreign financial institutions from providing banking services for the benefit of foreign terrorist organizations and from facilitating or promoting payments for acts of terrorism.