[Congressional Record Volume 142, Number 124 (Wednesday, September 11, 1996)]
[Extensions of Remarks]
[Page E1586]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                 EXPORTS, JOBS, AND GROWTH ACT OF 1996

                                 ______
                                 

                               speech of

                            HON. RICK LAZIO

                              of new york

                    in the house of representatives

                      Tuesday, September 10, 1996

  Mr. LAZIO of New York. Mr. Speaker, I rise today in favor of U.S. 
exports, quality jobs for American workers and H.R. 3759. This bill 
reauthorizes the Overseas Private Investment Corporation [OPIC] which 
plays a crucial role in encouraging and supporting U.S. private 
investment overseas. This bill is important to my home State of New 
York which ranks behind only California and Texas in total exports.
  OPIC enables U.S. companies to play a major role in overseas markets. 
Since the breakup of the Soviet Union this need has become greater, and 
there is no better time for American companies to get a foot in these 
markets than now and by passing this bill, we will create jobs for 
Americans through the exports which are created. By the end of this 
month, OPIC estimates that their projects will generate $6 billion in 
U.S. exports and nearly 20,000 jobs.
  OPIC operates as a self-sustaining institution, and there is no cost 
to the taxpayers. In fact, OPIC generated an income of $189 and had 
reserves of more than $2.4 billion and since 1971 OPIC has supported 
investments that will generate more than $43 billion in exports.
  I ask my colleagues to join me in voting for a pro-jobs, pro-American 
measure.

                          ____________________