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Congress takes first step on Iran sanctions

The Senate Banking Committee voted 18-4 in favor of repercussions if talks drag on.

WASHINGTON, DC - NOVEMBER 14: (R-L) U.S. Sen. Bob Corker (R-TN) speaks as Sen. Richard Shelby (R-AL), committee ranking member Sen. Mike Crapo (R-ID) and committee chairman Sen. Tim Johnson (D-SD) listen during a confirmation hearing for Nominee for the Federal Reserve Board Chairman Janet Yellen (3rd L) before Senate Banking, Housing and Urban Affairs Committee November 14, 2013 on Capitol Hill in Washington, DC. Yellen will be the first woman to head the Federal Reserve if confirmed by the Senate and will
US Sen. Bob Corker, R-Tenn., speaks as Sen. Richard Shelby, R-Ala.; committee ranking member Sen. Mike Crapo, R-Idaho; and committee chairman Sen. Tim Johnson, D-S.D., listen during a Senate Banking, Housing and Urban Affairs Committee hearing on Capitol Hill in Washington, Nov. 14, 2013. — Getty Images/Alex Wong

The US Senate on Jan. 29 took the first step toward passing Iran sanctions legislation that the White House and Iran have repeatedly warned could derail nuclear negotiations.

The Senate Banking Committee voted 18-4 in favor of legislation from Sen. Mark Kirk, R-Ill., that would gradually impose sanctions on Iran if no deal is reached by July 6. Lawmakers on the committee, however, defeated several amendments from hawkish Republicans that would have endangered Democratic support for the bill.

"I am pleased that the Banking Committee has approved legislation in a bipartisan manner that would impose additional sanctions should Iran fail to reach an agreement by the negotiating deadline,” Committee Chairman Richard Shelby, R-Ala., said in a statement. “It is clear that further action is necessary to compel Iran to reach an acceptable agreement, which is why I strongly support this critical bill.”

While the committee's passage of the bill was preordained, key questions remain.

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