WASHINGTON - The Obama administration is giving away its leverage with Iran through a bad deal in negotiations in Geneva, Senator Ted Cruz (R-TX) told a group of congressmen on Thursday afternoon.This is the time for more sanctions, he said, claiming US President Barack Obama is degrading the US-Israel relationship by grasping for "any deal" it can achieve.Cruz said he supports new sanctions legislation that the administration fears will undermine an international negotiations effort underway with Iran over its nuclear program. "I think it is likely the Senate will debate it in the next couple of weeks," Cruz told The Jerusalem Post after his speech. "The exact timing is up in the air, but I'm hopeful it'll be sooner rather than later."The bill, currently being considered in the Senate Banking Committee, could go through markup as soon as next week — the last procedural move before a bill goes to the chamber floor for a full vote.If that does not occur, one Republican senator, Mark Kirk, is threatening to amend it to the National Defense Authorization Act, an omnibus bill that typically passes through Congress by the end of the fiscal year. On whether he thought the bill would proceed independently or as an amendment to the NDAA, Cruz said: "that's a question still up for debate." The senator was one of many prominent figures to address the Israel Allies Foundation on Thursday during its 2013 conference.