Risch, Bennet, Salazar, Wasserman Schultz to Lead Colleagues in Introducing VALOR Act to Promote Democracy in Venezuela

WASHINGTON - U.S. Senators Jim Risch (R-Idaho), ranking member of the Senate Foreign Relations Committee, and Michael Bennet (D-Colo.), along with U.S. Representatives Maria Salazar (R-Fla.) and Debbie Wasserman Schultz (D-Fla.), today announced their intent to introduce the Venezuela Advancing Liberty, Opportunity, and Rights Act (VALOR Act) when the Senate and House reconvene in September. This legislation would establish U.S. policy in support of a transition to democratic order in Venezuela. The Senate bill will also be cosponsored by Senators Bill Cassidy (R-La.), Rick Scott (R-Fla.), and Bill Hagerty (R-Tenn.).

"The Maduro regime continues to violate internationally recognized human rights and threaten regional and international peace with impunity. It is past time the United States take the lead in establishing clear and resolute policies to support a credible transition to democratic order in Venezuela," said Senator Risch. "The VALOR Act will do just that by seeking international cooperation for a peaceful transition to democracy in Venezuela and maintaining sanctions until there has been substantive and measurable progress. I'm grateful to Senator Bennet for working with me on this effort."

"Maduro and his corrupt, illegitimate regime have wreaked havoc on Venezuela and its people. This bipartisan legislation affirms the United States' support for the Venezuelan people's fight to restore the rule of law and democracy in their country when they elected President-elect Edmundo González on July 28. I'll keep working with Senator Risch and my colleagues to demonstrate that the United States of America stands with them," said Senator Bennet.

"America cannot wait any longer as Maduro finalizes his theft of Venezuela's election," said Representative Salazar. "The United States must send the message that Maduro's time in Miraflores is up, and that Edmundo González will take his rightful office in January. No more money for the Chavistas and their repressive apparatus."

"Venezuelans courageously took to the ballot box to seek true, legitimate representation after a lost decade under Maduro," said Representative Wasserman Schultz, who co-chairs the Congressional Venezuela Democracy Caucus. "Despite violent repression, overwhelming majorities repudiated Maduro and chose President-elect Edmundo González. But this brutal regime refuses to face reality, despite clear evidence proving Maduro's loss. The Biden-Harris Administration successfully forced Maduro to hold this election. Now, the United States must ensure consequences for Maduro's attempt to overturn the will of the voters and support a democratic future for all Venezuelans."

"Edmundo Gonzalez won the Venezuela election by a landslide. But the Maduro regime uses the military and the police to steal the power," said Dr. Cassidy. "Only the Venezuelan people can seize this power back, but the U.S. should do everything we can to support this effort."

"For years, I have urged President Biden and Vice President Harris to put the full weight of the federal government behind the Venezuelan people's fight for democracy through free and fair elections, and at every turn the Biden-Harris administration has chosen to stand with Maduro by easing sanctions and failing to recognize Edmundo González Urrutia as the president-elect. The time is now for Maduro to leave office and allow the Venezuelan people to be free from his dictatorship. The United States must be a leader in bringing freedom and democracy to Venezuela and the VALOR Act is a step in the right direction," said Senator Scott.

"In addition to systemically abusing the rights of the Venezuelan people, the Maduro regime supports and profits from the international trafficking of illegal narcotics, attempts to weaponize mass migration to our southern border, provides safe harbor to U.S.-designated foreign terrorist organizations, and serves as a beachhead in the Western Hemisphere for Russia, China and Iran," said Senator Hagerty. "I'm pleased to co-sponsor this important legislation that holds the Maduro regime accountable for its disregard for the rights of the Venezuelan people and for its continued threats to the national security interests of the United States and our partners in the Western Hemisphere."

The VALOR Act:

• Establishes democratic benchmarks guiding the removal of sanctions on the Maduro regime and any non-democratic successor.
• Codifies financial sanctions on the Venezuelan Central Bank, Petróleos de Venezuela, S.A., and Venezuelan cryptocurrency.
• Requires the United States block participation of any non-democratic government of Venezuela at the Organization of American States, Inter-American Development Bank, and International Momentary Fund.
• Authorizes a $5M U.S. contribution to create an OAS Emergency Fund to deploy human rights monitors and electoral observers.
• Authorizes nongovernmental organizations to support humanitarian, democracy building, education, environmental protection, and non-commercial development projects in Venezuela directly benefiting the Venezuelan people.
• Blocks U.S. foreign assistance to any country providing assistance, including financial assistance (except humanitarian aid), to the Maduro regime or any non-democratic successor.
• Requires the president to develop an economic assistance plan to a democratically governed Venezuela and creates a "coordinating official" within the State Department to oversee development and implementation of such a plan.
• Requires the president to submit a report to Congress outlining barriers and policy objectives on trade and investment between the U.S. and a democratically governed Venezuela.

Text of the VALOR Act can be found here.

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