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Congressional Record, February 11, 2026, page S936: S. 3838, the Venezuela Oil Proceeds Transparency Act
U.S. Government Publishing Office · 2026-02-11
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CONGRESSIONAL RECORD—SENATE S579 February 11, 2026
(Mr. WELCH) was added as a cosponsor
of S. 3663, a bill to amend title 18,
United States Code, to modify delayed
notice requirements, and for other purposes.
S. 3752
At the request of Mr. LEE, the names
of the Senator from Iowa (Ms. ERNST),
the Senator from Iowa (Mr. GRASSLEY),
the Senator from Louisiana (Mr. CAS-
SIDY), the Senator from Utah (Mr. CUR-
TIS) and the Senator from Mississippi
(Mrs. HYDE-SMITH) were added as cosponsors of S. 3752, a bill to amend the
National Voter Registration Act of 1993
to require proof of United States citizenship to register an individual to
vote in elections for Federal office, and
for other purposes.
S. 3805
At the request of Mr. GRAHAM, the
names of the Senator from Texas (Mr.
CORNYN) and the Senator from Louisiana (Mr. KENNEDY) were added as cosponsors of S. 3805, a bill to amend
chapter 93 of title 18, United States
Code, to prohibit obstruction of immigration laws by official interference.
S. 3817
At the request of Mr. WYDEN, the
name of the Senator from Rhode Island
(Mr. WHITEHOUSE) was added as a cosponsor of S. 3817, a bill to amend the
Internal Revenue Code of 1986 to impose a tax on damages received by certain officers of the United States on account of any civil action filed against
the United States, and for other purposes.
S. RES. 547
At the request of Mr. RICKETTS, the
names of the Senator from Indiana
(Mr. BANKS) and the Senator from New
Jersey (Mr. KIM) were added as cosponsors of S. Res. 547, a resolution expressing unwavering support for the United
States-Japan alliance in response to
political, economic and military pressure by the People’s Republic of China.
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STATEMENTS ON INTRODUCED
BILLS AND JOINT RESOLUTIONS
By Mr. SCHUMER (for himself
and Mr. SCHIFF):
S. 3838. A bill to require the Comptroller General of the United States to
conduct an audit of a United States
and Venezuela energy deal, and for
other purposes; to the Committee on
Foreign Relations.
S. 3838
Be it enacted by the Senate and House of Representatives of the United States of America in
Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ‘‘Venezuela
Oil Proceeds Transparency Act’’.
SEC. 2. FINDINGS.
Congress finds that—
(1) on January 6, 2026, President Trump announced a United States-Venezuela energy
deal under which the United States will market and sell Venezuelan oil and deposit proceeds into ‘‘U.S.-controlled’’ accounts;
(2) according to the fact sheet of the Department of Energy issued on January 7,
2026, on the United States-Venezuela energy
deal—
(A) the Federal Government has engaged
commodity marketers and banks to execute
and provide financial support for the crude
oil and crude products sales;
(B) all proceeds from the sale of Venezuelan crude oil and oil products will first
settle in United States controlled accounts
at foreign banks ‘‘to guarantee the legitimacy and integrity of the ultimate distribution of proceeds’’; and
(C) the funds will be disbursed ‘‘for the
benefit of the American people and the Venezuelan people at the discretion of the U.S.
government’’ and will continue indefinitely;
(3) under the United States-Venezuela energy deal, the United States is selectively
rolling back sanctions to enable the transport and sale of Venezuelan crude and oil
products to global markets, and the Office of
Foreign Assets Control of the Department of
the Treasury is also issuing new licenses for
certain companies to import and export Venezuelan oil; and
(4) during testimony to the Committee on
Foreign Relations of the Senate on January
28, 2026, Secretary of State Marco Rubio said
there were plans for an ‘‘audit process’’ to
review expenditures from an account in
Qatar set up under the United States-Venezuela energy deal, but Secretary Rubio
added that ‘‘We haven’t finalized what that
audit process would be.’’.
SEC. 3. GAO AUDIT.
(a) IN GENERAL.—Not later than 30 days
after the date of enactment of this Act, the
Comptroller General of the United States
(referred to in this section as the ‘‘Comptroller General’’) shall initiate an audit of
the United States-Venezuela energy deal announced on January 6, 2026, including the activities of the Department of State, the Department of Energy, the Department of the
Treasury, and any other Federal Government agencies, employees, or contractors or
entities funded by the United States involved in implementing the deal.
(b) INTERIM BRIEFING.—Not later than 30
days after the date on which the audit required under subsection (a) is completed, the
Comptroller General shall provide to the
chair and ranking member of each committee and subcommittee of jurisdiction in
the House of Representatives and the Senate
a briefing on preliminary findings, scope, and
any identified risks of fraud, abuse, or conflicts of interest identified while conducting
the audit.
(c) NOTICE OF NONCOMPLIANCE.—In carrying
out this section, the Comptroller General
shall notify the chair and ranking member of
each committee and subcommittee of jurisdiction in the House of Representatives and
the Senate as soon as practicable if the
Comptroller General determines that access
to information has been unreasonably delayed or denied by any Federal department,
agency, employee, or contractor or entity
funded by the United States involved in implementing the United States-Venezuela energy deal described in subsection (a).
(d) REPORT.—
(1) IN GENERAL.—Not later than 90 days
after the date on which the audit required
under subsection (a) is completed, the Comptroller General shall—
(A) submit to Congress a report on that
audit, which shall include—
(i) a detailed description of the findings
and conclusions of the Comptroller General
with respect to the audit that is the subject
of the report; and
(ii) recommendations for legislative or administrative action, as the Comptroller General determines to be appropriate; and
(B) make the report available to—
(i) the Speaker of the House of Representatives;
(ii) the majority and minority leaders of
the House of Representatives;
(iii) the majority and minority leaders of
the Senate;
(iv) the chair and ranking member of each
committee and subcommittee of jurisdiction
in the House of Representatives and the Senate; and
(v) any Member of Congress who requests
the report.
(2) FORM.—The report required under paragraph (1) shall be submitted in unclassified
form, but may include a classified annex.
By Mr. PADILLA:
S. 3840. A bill to provide for the designation of areas as Health Investment
Zones to reduce health disparities and
improve health outcomes in such areas,
and for other purposes; to the Committee on Finance.
Mr. PADILLA. Mr. President, I rise
to introduce the Health Investment
Zones Act of 2026. This legislation
would designate health investment
zones for 10 years in areas with large
health disparities based on income, life
expectancy, provider shortages, and
align tax, grant, loan-repayment, and
Medicare incentives to expand services
where they are needed most.
This bill would establish health investment zones, HIZs, in areas with
significant health disparities, offering
incentives like expanded tax credits for
employers and workers, grants for
health projects, and loan repayment
for healthcare professionals serving in
these zones. It supports initiatives
such as mobile clinics and wellness
programs and provides Medicare bonuses for services delivered in HIZs.
The bill focuses on improving outcomes for conditions like diabetes, cardiovascular disease, and maternal
health, with a 10-year report to measure progress in health, access, and cost
reductions.
Many communities face preventable
gaps in health care access that lead to
higher emergency room use, more hospital admissions, and rising costs. Establishing 10-year health investment
zones will help close these gaps and ensure that underserved areas receive the
consistent, affordable, and high-quality
care they need.
By Mr. DURBIN (for himself, Mr.
REED, Mr. VAN HOLLEN, Ms.
WARREN, Mr. WHITEHOUSE, Mr.
BLUMENTHAL, Ms. DUCKWORTH,
Ms. HIRONO, Mr. SANDERS, and
Ms. BALDWIN):
S. 3847. A bill to amend the Internal
Revenue Code of 1986 to modify the
rules relating to inverted corporations;
to the Committee on Finance.
S. 3847
Be it enacted by the Senate and House of Representatives of the United States of America in
Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ‘‘Stop Corporate Inversions Act of 2026’’.
SEC. 2. MODIFICATIONS TO RULES RELATING TO
INVERTED CORPORATIONS.
(a) IN GENERAL.—Subsection (b) of section
7874 of the Internal Revenue Code of 1986 is
amended to read as follows:
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