WASHINGTON, D.C. – Today Congressman Blaine Luetkemeyer (MO-03), Chairman of the National Security, Illicit Finance and International Financial Institutions Subcommittee released the following statement regarding passage of his legislation, the Stop Fentanyl Money Laundering Act through the House Financial Services Committee in a full committee markup.

“Fentanyl is a poison that has devastated too many communities in Missouri and across the country. Unfortunately, it is also a very profitable business for drug producers and traffickers. Mexican cartels and their Chinese suppliers make billions of dollars selling the deadly drugs in the U.S. and take advantage of our laws to launder their profits. By allowing the Treasury Department to utilize its special measure authorities to target and thwart the money laundering that facilitates fentanyl trafficking in foreign jurisdiction, the Stop Fentanyl Money Laundering Act provides the tools to end the financial incentive for the mass murder of millions of Americans,” said Luetkemeyer.

Background: Congressman Luetkemeyer introduced the Stop Fentanyl Money Laundering Act with cosponsors Congressman Andy Barr (KY-06), Congresswoman Young Kim (CA-40), and Congressman Zach Nunn (IA-03) in May of 2023.