[Congressional Record (Bound Edition), Volume 149 (2003), Part 16]
[House]
[Page 22715]
[From the U.S. Government Publishing Office, www.gpo.gov]




            OPPOSITION TO CUTS IN LOAN GUARANTEES TO ISRAEL

  The SPEAKER pro tempore (Mr. Murphy). Under a previous order of the 
House, the gentleman from New Jersey (Mr. Pallone) is recognized for 5 
minutes.
  Mr. PALLONE. Mr. Speaker, I rise this evening to express my concern 
regarding reports that President Bush has already approved cuts in loan 
guarantees to Israel and is considering further cuts. Last week I spoke 
on the House floor regarding a decision by the Bush administration to 
cut loan guarantees to oppose Israeli settlements in the West Bank and 
Gaza. As I stated last week, I oppose any cuts in loan guarantees. 
These guarantees allow Israel to rebuild after years of violence and 
economic decline and are critical to Israel's future.
  I am further disturbed by reports that the Bush administration is 
considering additional cuts in loan guarantees to protest Israel's 
construction of a security fence along the West Bank.
  Mr. Speaker, on a recent trip to Israel in August along with, I 
think, 29 other Democratic Members, I had the opportunity to view the 
security fence firsthand. While in Jerusalem, I toured border 
communities where Israeli citizens live in constant fear of sniper 
attacks and suicide bombings. This fence will provide a sense of safety 
and security to these border families and will help prevent continued 
attempts to derail the peace process through violence.
  In my meetings with government officials in Jerusalem, they 
acknowledged that the fences are temporary and can be moved or removed 
pending future peace agreements. Furthermore, Prime Minister Ariel 
Sharon has shown that he is willing to work with the United States and 
has sent a diplomatic delegation here to continue discussions on the 
fence. However, until the Palestinian Authority dismantles the 
terrorist infrastructure, Israel must be permitted to take steps to 
protect their citizens from violence without financial retribution from 
the United States.
  Mr. Speaker, I just think this is the wrong decision by the Bush 
administration. That is why today I sent a letter to President Bush to 
urge him to reverse his decision to restrict loan guarantees to Israel 
and to reconsider any future restrictions. With the continued rise in 
violence, now is not the time to take punitive action against the 
Israeli Government. It is critical to our role in the region that the 
United States maintains its steadfast support of Israel and not 
undercut Israel's military and diplomatic authority or, most important, 
their ability to protect their citizens from harm and terrorism.

                          ____________________