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




                OPPOSE THE EXPORTS, JOBS, AND GROWTH ACT

  (Mr. HOKE asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. HOKE. Mr. Speaker, I rise in opposition to H.R. 3759, the so-
called Exports, Jobs, and Growth Act. This legislation is going to 
double the size of OPIC, the Overseas Private Investment Corporation. 
The increase will dramatically increase the exposure of OPIC to high 
risk areas, such as Africa and Russia, and default on these loans would 
have a very substantial impact on our budget.
  At a time when we are so doggone concerned about the size of our 
budget deficit, how can we in good conscience expand a program that 
protects the profits of Fortune 500 corporations at the expense of the 
American taxpayer and sends more jobs overseas?

                              {time}  1215

  I strongly urge my colleagues to oppose corporate welfare and vote 
against H.R. 3759.

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