[Congressional Record Volume 142, Number 124 (Wednesday, September 11, 1996)]
[House]
[Page H10182]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




             VOTE ``NO'' ON OPIC CORPORATE WELFARE PROGRAM

  (Mr. SANDERS asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. SANDERS. Mr. Speaker, let us be frank. Exxon, Ford, Citibank, and 
DuPont are profitable multibillion dollar corporations who pay their 
CEO's millions of dollars in salary. These companies do not need OPIC 
corporate welfare payments from the taxpayers of this country to 
provide them with incentives to invest abroad. Incentives to invest 
abroad.
  At a time when some Members of this body are proposing huge cuts in 
Medicare, Medicaid, education, veterans programs, environmental 
protection, it is totally absurd to increase the amount of corporate 
welfare that we provide to these huge profitable corporations.
  Not only is this a bad deal for taxpayers, it is bad economic 
development and job creation. Many of these same corporations are 
downsizing, laying off hundreds of thousands of American workers. Our 
policy should not be to encourage these companies to invest abroad, our 
policy should be to demand that these companies reinvest in the United 
States of America, in the State of Vermont, all over this country, and 
create decent paying jobs here.
  Let us vote no on this OPIC corporate welfare program.

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