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The US Senate Committee on Banking voted 18 to 4 in favor of a bill that would further sanction Iran, if the country fails to reach an agreement on the nuclear deal by the July 2015 deadline, according to a statement made by the chairman of the committee Republican Senator Richard Shelby of Alabama on Thursday, Sputnik News reported.

“Banking Committee has approved legislation in a bipartisan manner that would impose additional sanctions should Iran fails to reach an agreement by the negotiating deadline,” the committee’s Chairman Senator Richard Shelby of Alabama said, following the approval of the bill. “It is clear that further action is necessary to compel Iran to reach an acceptable agreement, which is why I strongly support this critical bill.”

The Nuclear Weapon Free Iran Act of 2015, also known as the “the Kirk-Menendez bill,” aims to impose “crippling economic pressure on Iran” if the country does not yield a final nuclear deal by June 30, 2015 deadline. The bill additionally directs that a congressional review period convenes to have 30 continuous session days “in the event of a final deal.”

“With an overwhelming 18-to-4 bipartisan vote, the Senate Banking Committee today showed that the Senate stands ready to pass the Kirk-Menendez legislation,” Republican Senator Mark Kirk of Illinois said in a statement, following the passage of the bill. “Now is the time to stop Iran from getting nuclear weapons and launching a nuclear war in the Middle East.”