[Congressional Record Volume 140, Number 85 (Wednesday, June 29, 1994)]
[Extensions of Remarks]
[Page E]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: June 29, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
            AGRICULTURAL INVESTMENT AND MARKET EXPANSION ACT

                                 ______


                           HON. JILL L. LONG

                               of indiana

                    in the house of representatives

                        Wednesday, June 29, 1994

  Ms. LONG. Mr. Speaker, today a number of my colleagues and I are 
introducing legislation, H.R. 4675, the Agricultural Investment and 
Market Expansion Act [AIME], to maintain export and food assistance 
programs as allowed under the General Agreement on Tariffs and Trade 
[GATT]. The bill is budget neutral and merely shifts funding reductions 
required under GATT to important GATT-legal programs. This legislation 
is needed if the United States is to maintain a competitive edge 
against foreign competitors.
  Agriculture tariff revenue losses are expected to account for $819 
million or 7 percent of the total cost of GATT. The latest figure for 
the cost of GATT has been estimated to be $11.5 billion. However, the 
administration is asking agriculture to fund over 14 percent of the 
costs associated with financing GATT. Not only is this unfair 
treatment, but it is imperative that the money saved from export 
subsidy programs be redirected into the green-box programs to maintain 
a competitive edge for U.S. agriculture.
  I ask my colleagues to consider cosponsoring this legislation.

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