Senator Rick Scott (R-FL) joined Senate Foreign Relations Chairman Jim Risch (R-ID) and five other U.S. senators in introducing the Venezuela Advancing Liberty, Opportunity, and Rights Act (VALOR Act). The bill would provide a blueprint for Venezuela to transition to a democratic government.
The nation has been under Nicolas Maduro's dictatorship since 2013.
The VALOR Act rewards the South American nation with a reduction in sanctions whenever "democratic benchmarks" are met. It also attempts to assist nongovernmental organizations in providing "democracy building" and other projects in Venezuela.
Sen. Scott stated that the people of Venezuela have spoken and they've rejected Maduro and the United States will not tolerate his attempt to hold on to power.
“The Venezuelan people have made it overwhelmingly clear that President-elect Edmundo González is their rightful leader and that Maduro’s time is OVER," said Sen. Scott. "Any attempt by Maduro to illegitimately cling to power through violence or repression will NOT be tolerated by the United States or the international community."
The Florida senator continued, saying his bill will usher in a period of democracy in the South American country.
"As we prepare for President-elect Gonzalez’s inauguration on January 10th, the United States must be a leader in bringing freedom and democracy to Venezuela, starting with passing the VALOR Act," concluded Scott.
Moreover, Sen. Risch shared that the VALOR Act will hurt the Venezuelan dictatorship.
“The Maduro regime poses a serious threat to U.S. national security and international stability by causing chaos in our hemisphere," said Sen. Risch. "Sanctions imposed under The VALOR Act will reduce the resources the regime has at its disposal to harm Americans and American interests. I’m grateful to my colleagues for supporting this critical national security legislation.”
What will the VALOR Act do?
According to Sen. Scott's office, 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.
