[Congressional Record Volume 141, Number 93 (Thursday, June 8, 1995)]
[House]
[Pages H5694-H5695]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


                          OVERSEAS INVESTMENT

  (Mrs. SEASTRAND asked and was given permission to address the House 
for 1 minute and to revise and extend her remarks.)
  Mrs. SEASTRAND. Mr. Speaker, when is a spending cut a spending cut? 
[[Page H5695]] Today, as we are considering the Overseas Interests Act 
that recognizes that we have won the cold war, we will answer that 
question.
  The bill we are considering today reduces, diminishes, lessens, 
curtails, lowers and yes, cuts foreign aid. It concentrates on cutting 
aid to countries that do not support us in the United Nations. It 
punishes the countries that supply weapons to terrorist states. It 
refocuses our efforts on the countries that do support American 
interests overseas.
  The new majority in this Congress are serious about cutting spending 
and eliminating agencies in this bill. We save the taxpayers $21 
billion over 7 years. That is a cut. We eliminate three major agencies 
in the first major restructuring of our foreign affairs operation in 50 
years. That is a cut.
  When is a spending cut a cut? It is today, when we debate and 
continue discussion on the Overseas Interests Act.

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