Michael F. Bennet

08/22/2024 | Press release | Archived content

Bennet, Risch, Wasserman Schultz, Salazar to Introduce Legislation to Promote Democracy in Venezuela

Bennet, Risch, Wasserman Schultz, Salazar to Introduce Legislation to Promote Democracy in Venezuela

August 22, 2024

Washington, D.C. - U.S. Senators Michael Bennet (D-Colo.) and Jim Risch (R-Idaho), alongside U.S. Representatives Debbie Wasserman Schultz (D-Fla.) and Maria Salazar (R-Fla.), announced their intent to introduce the Venezuela Advancing Liberty, Opportunity, and Rights Act (VALOR Act) when Congress reconvenes in September. This legislation establishes U.S. policy in support of a transition to democratic order in Venezuela.

"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 Bennet.

"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 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."

"Venezuelans courageously took to the ballot box to seek true, legitimate representation after a lost decade under Maduro," said Wasserman Schultz. "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."

"America cannot wait any longer as Maduro finalizes his theft of Venezuela's election," said 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."

Specifically, this legislation:

  • 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 U.S. to block participation of any non-democratic government of Venezuela at the Organization of American States (OAS), Inter-American Development Bank, and International Momentary Fund;

  • Authorizes a $5 million 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; and

  • 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.

In addition to Bennet and Risch, U.S. Senators Bill Cassidy (R-La.), Rick Scott (R-Fla.), and Bill Hagerty (R-Tenn.) also sponsored the legislation.

The text of the legislation is available HERE.