[Congressional Record Volume 142, Number 124 (Wednesday, September 11, 1996)]
[House]
[Pages H10180-H10181]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                 EXPORTS, JOBS, AND GROWTH ACT OF 1996

  (Mr. BEREUTER asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. BEREUTER. Mr. Speaker, if Members want to send high-paying 
export-related jobs to Japan, Germany,

[[Page H10181]]

France, and Canada then they should vote today against, the Jobs, 
Exports and Growth Act of 1996.
  But if Members want to keep high-paying export-related jobs in the 
United States while generating over $600 million toward deficit 
reduction, then they should vote for this legislation.
  Revisionists have labeled the Overseas Private Investment Corporation 
as corporate welfare. Yesterday, this Member challenged their leader, 
the distinguished gentleman from Ohio, to point to 1 year in the last 
25 of OPIC's history where it lost taxpayer's money.
  You know what Mr. Speaker, the gentleman from Ohio didn't answer this 
Member's question because he can't. OPIC has generated positive net 
income for our Government very year since its inception in 1971--that's 
why it has $2.6 billion in reserves.
  Without OPIC, America would have sent $43 billion in United States 
exports and 200,000 American jobs to Japan, France, Germany, Canada, 
Italy, and other industrialized countries. Political leaders in those 
countries don't call it corporate welfare, they rightly call export 
promotion a national priority.

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