Bill Overview
Title: FASTER Act of 2022
Description: This bill directs a federal law enforcement agency to notify the Financial Crimes Enforcement Network (FinCEN) in the Department of the Treasury of an arrest of an individual under suspicion of participating in domestic terrorism or providing material support for terrorism. FinCEN must then order any appropriate financial institution to freeze that individual's assets. The bill also sets forth provisions for contesting a freeze, unfreezing assets, and disposing of assets in the event of a conviction. The Federal Bureau of Investigation must establish a national clearinghouse of incidents of homegrown lone wolf terrorism, domestic terrorism, and the provision of material support to terrorists.
Sponsors: Rep. Gottheimer, Josh [D-NJ-5]
Target Audience
Population: People suspected of participating in domestic terrorism or providing material support for terrorism
Estimated Size: 5000
- The bill impacts individuals suspected of participating in domestic terrorism or providing material support for terrorism.
- The bill requires freezing of assets for suspects which affects individuals with financial accounts in institutions under FinCEN's jurisdiction.
- The number of global individuals involved in or suspected of terrorist activities is a relatively small percentage of the global population.
- Specific individuals impacted are mostly within countries with high counter-terrorism activities, particularly Western countries.
Reasoning
- The policy affects a specialized group potentially involved in terrorism-related activities, which is a very small fraction of the U.S. population.
- Financial impacts such as asset freezing will directly affect these suspects and indirectly affect related parties, potentially including family members and businesses.
- Most U.S. citizens will not feel any direct impact from this policy unless involved or associated with those targeted, hence a range of impact from none to high depending on involvement.
- The policy's budget constraints mean that extensive surveillance and legal proceedings will need to stay within allocated funding.
Simulated Interviews
Software Engineer (Los Angeles, CA)
Age: 32 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 3.0 years
Commonness: 2/20
Statement of Opinion:
- I believe the policy is necessary for national security.
- It's concerning that assets can be frozen before a conviction.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 7 |
| Year 2 | 6 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 7 | 7 |
| Year 10 | 7 | 8 |
| Year 20 | 8 | 9 |
Accountant (Austin, TX)
Age: 45 | Gender: female
Wellbeing Before Policy: 8
Duration of Impact: 0.0 years
Commonness: 12/20
Statement of Opinion:
- I don't really have strong feelings about this policy, it doesn't affect me.
- I'm confident authorities will act fairly.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 8 | 8 |
| Year 5 | 8 | 8 |
| Year 10 | 9 | 9 |
| Year 20 | 9 | 9 |
Barista (Chicago, IL)
Age: 28 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 2.0 years
Commonness: 8/20
Statement of Opinion:
- This policy could be used to oppress political dissidents.
- It makes me wary of participating in certain activities.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 4 | 5 |
| Year 2 | 5 | 5 |
| Year 3 | 5 | 5 |
| Year 5 | 6 | 6 |
| Year 10 | 6 | 6 |
| Year 20 | 6 | 7 |
Corporate Lawyer (New York, NY)
Age: 50 | Gender: female
Wellbeing Before Policy: 9
Duration of Impact: 1.5 years
Commonness: 3/20
Statement of Opinion:
- It's a balance between security and civil liberties that is crucial.
- In a legal perspective, it demands rigorous justification for asset freezing.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 9 |
| Year 2 | 8 | 9 |
| Year 3 | 8 | 9 |
| Year 5 | 9 | 9 |
| Year 10 | 9 | 9 |
| Year 20 | 9 | 9 |
Journalist (Boston, MA)
Age: 39 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 4.0 years
Commonness: 4/20
Statement of Opinion:
- This policy will make it harder to investigate certain stories.
- Security-oriented policies often make information gathering more difficult.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 6 |
| Year 2 | 5 | 6 |
| Year 3 | 6 | 6 |
| Year 5 | 6 | 7 |
| Year 10 | 7 | 7 |
| Year 20 | 7 | 7 |
Retired School Teacher (Phoenix, AZ)
Age: 65 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 0.0 years
Commonness: 10/20
Statement of Opinion:
- I'm a bit worried this might grow into something that infringes on rights.
- Trusts authorities to some extent, but remains watchful.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 7 | 8 |
| Year 10 | 8 | 8 |
| Year 20 | 8 | 8 |
University Student (Seattle, WA)
Age: 24 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 3.0 years
Commonness: 7/20
Statement of Opinion:
- These laws can be intimidating for activists.
- I'm afraid this might discourage people from speaking up.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 6 |
| Year 2 | 6 | 7 |
| Year 3 | 6 | 7 |
| Year 5 | 7 | 7 |
| Year 10 | 7 | 8 |
| Year 20 | 7 | 8 |
Immigration Lawyer (Miami, FL)
Age: 29 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 5/20
Statement of Opinion:
- This policy could lead to more work fighting for clients' assets.
- The balance between security and freedom is delicate and must be watched closely.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 6 |
| Year 2 | 6 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 7 | 8 |
| Year 10 | 7 | 8 |
| Year 20 | 8 | 8 |
Small Business Owner (Denver, CO)
Age: 55 | Gender: male
Wellbeing Before Policy: 8
Duration of Impact: 0.0 years
Commonness: 15/20
Statement of Opinion:
- I see no immediate effect on my business from this policy.
- If anything, I hope it keeps things safer.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 8 | 8 |
| Year 5 | 8 | 8 |
| Year 10 | 8 | 9 |
| Year 20 | 9 | 9 |
Data Analyst (Houston, TX)
Age: 47 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 2.0 years
Commonness: 6/20
Statement of Opinion:
- We need these policies for security, but oversight is crucial.
- My concern is about wrongful accusations and financial impacts.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 7 |
| Year 2 | 6 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 7 | 8 |
| Year 10 | 7 | 8 |
| Year 20 | 8 | 8 |
Cost Estimates
Year 1: $100000000 (Low: $85000000, High: $120000000)
Year 2: $105000000 (Low: $90000000, High: $126000000)
Year 3: $110000000 (Low: $95000000, High: $132000000)
Year 5: $120000000 (Low: $102000000, High: $144000000)
Year 10: $140000000 (Low: $119000000, High: $168000000)
Year 100: $300000000 (Low: $255000000, High: $360000000)
Key Considerations
- The policy focuses on enhancing counter-terrorism efforts through financial monitoring and asset freezing.
- The operational scope and legal processes involved imply either increased or more efficient resource allocation within existing agencies.
- Potential legal challenges regarding asset freezing procedures without convictions.