[Congressional Record Volume 140, Number 135 (Friday, September 23, 1994)]
[Extensions of Remarks]
[Page E]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: September 23, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
                    JOBS THROUGH TRADE EXPANSION ACT

                                 ______


                          HON. LEE H. HAMILTON

                               of indiana

                    in the house of representatives

                       Friday, September 23, 1994

  Mr. HAMILTON. Mr. Speaker, as Members are aware, the House adopted 
H.R. 4950, the Jobs Through Trade Expansion Act of 1994, on Monday, 
September 19.
  That bill extends and rewrites the authorities of the Overseas 
Private Investment Corporation. One provision of the bill falls within 
the jurisdiction of the Committee on Ways and Means.
  I would like to include in the Record at this point my correspondence 
with the Committee on Ways and Means on this provision.

                                  Committee on Ways and Means,

                               Washington, DC, September 22, 1994.
     Hon. Lee H. Hamilton,
     Chairman, Committee on Foreign Affairs, Rayburn House Office 
         Building, Washington, DC.
       Dear Mr. Chairman: I write to you today regarding H.R. 
     4950, a bill to extend the authorities of the Overseas 
     Private Investment Corporation (OPIC). It has come to my 
     attention that one provision in the bill, as reported by the 
     Committee on Foreign Affairs, is within the jurisdiction of 
     the Committee on Ways and Means. I refer specifically to 
     section 235(f) regarding the issuance of obligations.
       Section 235(f) would authorize OPIC to borrow from the 
     Department of the Treasury up to a maximum amount of $100 
     million of obligations outstanding at any one time. The 
     section would require the Treasury to lend such amounts to 
     OPIC, using for this purpose the proceeds of public debt 
     transactions under Chapter 31 of title 31 of the United 
     States Code.
       As you know, the issuance of bonded public debt of the 
     United States is in the exclusive jurisdiction of the 
     Committee on Ways and Means. In this instance, I realize that 
     this provision has been in law since 1974 and that H.R. 4950 
     simply extends the applicability of that provision.
       I assure you that the Committee on Ways and Means has no 
     substantive policy interest in other aspects of the bill and 
     does not intend to delay its progress through the legislative 
     process. In this case, the Committee on Ways and Means will 
     not exercise its right to a sequential referral of H.R. 4950, 
     with the understanding that this does not in any way 
     prejudice its jurisdictional interests.
       However, I take very seriously my responsibility with 
     regard to the jurisdiction of the Committee on Ways and 
     Means; therefore, I felt obliged to bring to your attention 
     this aspect of H.R. 4950. I trust that you understand my 
     concerns in this regard. I hope that our committees can work 
     together on this matter when similar legislation is 
     considered in the future.
       Thank you for your consideration of this matter.
           Sincerely yours,
                                                   Sam M. Gibbons,
                                                  Acting Chairman.
                                  ____



                                 Committee on Foreign Affairs,

                               Washington, DC, September 22, 1994.
     Hon. Sam Gibbons,
     Acting Chairman, Committee on Ways and Means, Longworth House 
         Office Building, Washington, DC.
       Dear Sam: I write in response to your letter regarding H.R. 
     4950, the Jobs Through Trade Expansion Act of 1994.
       As you noted, new section 235(f) of the Foreign Assistance 
     Act, as added by H.R. 4950, does involve the use by the 
     Treasury of bonded public debt for OPIC. I agree that this 
     issue falls within the jurisdiction of your committee. It was 
     not my intention in moving this legislation to in any way 
     impinge on your committee's jurisdiction.
       Section 235(f) of H.R. 4950 restates a provision of current 
     law, enacted in 1974. Please be assured that if the Committee 
     on Foreign Affairs is faced with any modifications of this 
     language during Senate consideration, I will support fully 
     any request by the Committee on Ways and Means to be 
     conferees on this section. In addition, if the Committee on 
     Foreign Affairs needs to address this issue in the future in 
     any other way, I will not hesitate to contact you.
       Thank you for your cooperation to date on this matter. I 
     look forward to continuing to work with you on this and other 
     issues of mutual concern to our two committees.
       With best regards,
           Sincerely,
                                                  Lee H. Hamilton,
     Chairman.

                          ____________________