On February 26, the Senate Foreign Relations Committee approved, by voice vote, the End of Modern Slavery and Trafficking Initiative Act (S. 553).
Sponsored by Chair Bob Corker (R-TN), the bill would authorize $1 million in FY2015 and $35.714 million annually for FY2016-2022 to establish a private, nonprofit grant-making institution known as the End Modern Slavery Initiative Foundation that would reduce forced labor and sexual servitude around the world. The foundation would fund programs outside the United States that contribute to the recovery of victims, prevent individuals from becoming victims, and enforce laws to punish individuals and corporate offenders of modern slavery.
The bill aims to reduce by 50 percent modern slavery in targeted populations of partner countries and in key jurisdictions of other countries over seven years. It will seek to raise $1.5 billion for the initiative, 80 percent or more of which would come through matching funds from private sector partners and foreign governments.
