Austin News

U.S. Senators John Cornyn (R-TX) and Catherine Cortez Masto (D-NV) released statements following the Senate's passage of their Preventing the Financing of Illegal Synthetic Drugs Act. The bill, aimed at financially stifling organizations trafficking synthetic drugs like fentanyl into the United States, now heads to the President’s desk.

“Fentanyl is an unprecedented crisis that continues to take the lives of innocent children and adults across our country, and we must combat it at all levels,” said Sen. Cornyn. “This bill would help law enforcement better understand narcotrafficking organizations’ illegal financing and business models, which will increase our chances of defeating them and help save American lives.”

“Keeping Nevadans safe is one of my top priorities, and I’m proud to pass my bill to help us go after drug traffickers spreading dangerous synthetic drugs like fentanyl into our communities,” said Sen. Cortez Masto. “This bill will improve our understanding of how drug cartels finance their operations to better prevent fentanyl money laundering and crack down on drug trafficking.”

Representatives Monica De La Cruz (TX-15), Brittany Pettersen (CO-07), and Andy Ogles (TN-05) introduced the legislation in the House, where it passed last year.

According to the Centers for Disease Control and Prevention, more than 107,000 people in the United States died from drug overdoses in 2023, with nearly 75,000 involving synthetic opioids like fentanyl.

The Preventing the Financing of Illegal Synthetic Drugs Act directs the Comptroller General of the United States (GAO) to study illicit financing associated with synthetic drug trafficking. The GAO is tasked with detailing for Congress these organizations' business models, how they move and hide their illicit earnings, and what measures can be taken by the U.S. government to better prevent fentanyl money laundering. The GAO must submit its report to Congress within one year after enactment.