Austin News

U.S. Senator Ted Cruz, along with several colleagues, has reintroduced the Preserving Accountability for National Assets Act (PANA Act), a bill aimed at using funds seized from corrupt individuals connected to the Chavez and Maduro regimes in Venezuela for the benefit of the Venezuelan people. The bill proposes the creation of a "Venezuela Restoration Fund" to be managed by the State Department, with the intention of supporting the development of Venezuelan democracy and civil society.

The PANA Act has garnered support from Senators Marco Rubio, Pete Ricketts, Bill Hagerty, Rick Scott, John Barrasso, and Todd Young. The bipartisan effort seeks to address the rampant corruption that has plagued the Chavez and Maduro regimes, leading to the impoverishment of the Venezuelan people.

Senator Cruz emphasized the importance of holding those responsible for corruption accountable and providing much-needed support to those working towards restoring freedom in Venezuela. He stated, "Corruption is rampant among the leading individuals connected to the Chavez and Maduro regimes in Venezuela. Venezuelans have seen billions of dollars stolen from them, leaving their country impoverished."

Senator Rubio echoed the sentiment, emphasizing that the assets recovered from the criminal Maduro and Chavez regimes should be utilized to aid the Venezuelan people, who have suffered greatly under their misgovernment and incompetence. He stated, "Rebuilding Venezuela's democracy, the rule of law, and a prosperous future requires strengthening the nation's democratic governance and its institutions."

Senator Hagerty also expressed his support for the bill, highlighting the devastation caused by the illegitimate Maduro regime. He stated, "The illegitimate, leftist, anti-American Maduro regime has left a trail of devastation in its wake—billions stolen, democracy dismantled, and the world's largest refugee crisis." Senator Hagerty further emphasized the need to direct frozen funds towards supporting a democratic restoration and economic revival in Venezuela.

Senator Rick Scott, who also supports the bill, condemned the ruthless and corrupt actions of Maduro and his associates. He stressed the importance of returning any money or assets seized from their corrupt activities to the people of Venezuela, stating, "Maduro and his thugs are ruthless and corrupt. Any money or assets seized relating to their corrupt activities deserve to be returned to the people of Venezuela."

Senator Young emphasized the need to hold corrupt governments accountable and work towards restoring freedom and democracy in Venezuela. He stated, "The regimes of Hugo Chavez and Nicolás Maduro have stolen the futures of the Venezuelan people for decades through graft and kleptocracy. It is past time to ensure that the fruits of their illicit labors go towards helping the victims of their oppression."

The PANA Act aims to utilize funds seized from corrupt individuals to strengthen democratic governance and institutions in Venezuela. It seeks to defend internationally recognized human rights, support independent media outlets, combat corruption, and improve transparency and accountability within institutions associated with the Chavez and Maduro regimes.

The introduction of the PANA Act reflects ongoing efforts to address the dire situation in Venezuela and provide much-needed support to the Venezuelan people. The bipartisan nature of the bill underscores the urgency and importance of this issue.

To find out more, go to this link: https://www.cruz.senate.gov/newsroom/press-releases/sen-cruz-colleagues-introduce-bill-to-use-funds-seized-from-corrupt-venezuelan-individuals-for-the-venezuelan-people