We have received text from H.R. 506: Security First Act. This bill was received on 2025-01-16, and currently has 15 cosponsors.
Here is a short summary of the bill:
The bill, titled the Security First Act, is intended to enhance U.S. border security and combat organized crime and terrorism associated with drug cartels and transnational criminal organizations. Here is a breakdown of its main components:
1. Purpose of the Act
The Act aims to address significant security concerns at the Southwest border with Mexico, including a large number of encounters with individuals crossing the border, the issue of “gotaways” who evade Border Patrol, and the threat from individuals on terrorist watchlists. The bill emphasizes the need for better resources for federal, state, and local law enforcement agencies tasked with border security.
2. Funding for Operation Stonegarden
- Appropriations: The bill authorizes $110 million annually from fiscal years 2025 to 2028 for the Operation Stonegarden grant program, which supports local law enforcement in border operations.
- Technology and Equipment: It also provides for at least $36.67 million each year to procure necessary technology and equipment such as communication systems, sensors, and drones.
- Creation of a Trust Fund: A trust fund will be established to manage these funds, sourced from unreported monetary seizures made by U.S. Customs and Border Protection at the U.S.-Mexico border.
3. Designation of Foreign Terrorist Organizations
- Report Submission: The Secretary of State must report within 60 days of enactment on whether specific Mexican drug cartels and criminal gangs meet the criteria for being designated as foreign terrorist organizations.
- Specified Groups: The bill identifies groups such as the Jalisco New Generation Cartel, Sinaloa Cartel, and Tren De Aragua for consideration.
4. Technology Needs Analysis
The bill mandates a comprehensive analysis of the technology needs for border security. This analysis must cover:
- Assessment of current and needed technologies for preventing terrorism and cross-border crime.
- Recent advancements in various technological domains that could enhance security operations.
Once the initial analysis is submitted, there will be biannual updates for four years to reassess the technology needs and effectiveness.
5. Hiring Practices Report
Within 120 days following the enactment, the Secretary of Homeland Security is required to submit a report detailing the hiring practices from 2018 to 2024, offering insights into recruitment and recommendations for strengthening the department’s operational capacity.
6. Overall Goals
The overarching goal of the Security First Act is to strengthen border security through better funding, technological advancements, and enhanced coordination among various law enforcement agencies. It recognizes the critical role that local law enforcement plays in federal border security operations and seeks to provide adequate resources to effectively manage threats.
Relevant Companies
- BA - Boeing : As a significant manufacturer of drones and other surveillance technologies, Boeing may see increased demand for their products in response to the bill's emphasis on technological procurement for border security.
- RTN - Raytheon Technologies : Raytheon, known for its advanced defensive technologies, could experience heightened interest in its security and surveillance systems due to new funding and requirements set by the bill.
- FLIR - Teledyne FLIR : A key provider of surveillance and imaging technologies, FLIR could see growth in contracts for equipment provision as border technology needs expand.
This article is not financial advice. See Quiver Quantitative's disclaimers for more information.
