Texas Border Business
WASHINGTON – The Senate has passed H.R. 1076, the Preventing the Financing of Illegal Synthetic Drugs Act, a crucial piece of bipartisan legislation introduced by Rep. Monica De La Cruz (R-Texas) in February 2023. The bill aims to prevent the financing of illegal synthetic drugs. With the bill’s passage in both the House and the Senate, it now awaits the President’s signature to become law.
H.R. 1076 directs the Comptroller General of the United States to study the illicit financing associated with synthetic drug trafficking. This comprehensive study will provide Congress with a detailed understanding of the business models of these trafficking organizations, how they move and hide their illicit gains, and what the U.S. Government can do to combat fentanyl money laundering.
“I am grateful to the Senate for passing this critical legislation and I thank Sen. Cornyn for introducing the companion legislation in the Senate. I encourage the President to swiftly sign this vital legislation into law,” said Rep. De La Cruz. “We must continue to fight tirelessly to get fentanyl off our streets. Border communities like those in Texas’ 15th Congressional District are on the frontlines, seeing the drug trade’s impact on our cities and towns. Knowing how these narcotrafficking organizations conduct their financing and business models will increase our chances of defeating them and saving American lives. We want our communities to be strong and our families to thrive. This bill is a significant step in ending the deadly impact fentanyl has on our communities.”
According to the Centers for Disease Control and Prevention, over 107,000 people in the United States died from drug overdoses or poisonings in the 12 months ending January 2022, with 67% of those deaths involving synthetic opioids like fentanyl.
H.R. 1076 passed the House in May 2023. Reps. Andy Ogles (TN-05), and Brittany Pettersen (CO-07) are the lead co-sponsors of this bill.
