[Congressional Record Volume 142, Number 129 (Wednesday, September 18, 1996)]
[Extensions of Remarks]
[Pages E1639-E1640]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




             ``THE EXPORT PROGRAMS EXTENSION ACT OF 1996''

                                 ______
                                 

                             HON. TOBY ROTH

                              of wisconsin

                    in the house of representatives

                     Wednesday, September 18, 1996

  Mr. ROTH. Mr. Speaker, today I have introduced the Export Programs 
Extension Act of 1996. This legislation provides for a 1-year re-
authorization of three vitally important export agencies: the Overseas 
Private Investment Corporation [OPIC], the U.S. Trade and Development 
Agency [TDA], and the export programs of the International Trade 
Administration [ITA]. principally the U.S. and Foreign Commercial 
Service.
  Each of these agencies generates increased exports by American 
companies, creating new jobs for American workers. During its 25 year 
history, OPIC's investment guarantees and insurance have supported $43 
billion in exports, translating into 200,000 American jobs. In its 10 
years of operation, TDA has supported $7 billion in U.S exports, 
resulting in nearly 140,000 jobs for U.S. workers. ITA facilitates $5 
billion in U.S. exports annually, which result in 100,000 new jobs 
every year.
  This bill provides a simple extension of authority for these three 
agencies for 1 year, at levels consistent with the anticipated 
appropriations levels and the administration's budget request for 
fiscal year 1997.
  The bill further provides that the statutory ceilings on OPIC's 
investment guaranties and insurance liabilities would be combined into 
a single overall ceiling on both activities. By making this change in 
law, the ceiling on OPIC's overall contingent liability is kept at 
current levels for the upcoming year, while giving OPIC flexibility to 
meet the demand by U.S. exporters for their assistance to American 
companies.
  In my view, the provisions of this bill represent a workable 
legislative compromise for the upcoming fiscal year and I recommend to 
my colleagues that these provisions form the

[[Page E1640]]

basis for reauthorizing those important programs before the Congress 
adjourns for the year.

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