[Public Papers of the Presidents of the United States: WILLIAM J. CLINTON (2000, Book I)]
[April 12, 2000]
[Pages 690-691]
[From the U.S. Government Publishing Office www.gpo.gov]



Statement on the America's Private Investment Companies Initiative
April 12, 2000

    Last fall in Chicago, Speaker Hastert 
and I agreed to work together on a bipartisan legislative initiative to 
bring new private investment to America's economically disadvantaged

[[Page 691]]

communities. Today I am pleased to report that we have made some 
progress on that pledge. Passage of the APIC's initiative by the House 
Banking and Financial Services Committee represents the first crucial 
step in this bipartisan effort. America's Private Investment Companies 
(APIC's) will spur as much as $1.5 billion in new private investment in 
new markets across America. They represent a smart, innovative way to 
help ensure that all communities share in America's economic prosperity.
    I would like to thank Representatives LaFalce, Leach, Lazio, Kanjorski, and 
Baker for their leadership in moving this 
legislation forward. I look forward to continue working with Congress on 
comprehensive legislation to help renew America's communities and tap 
into the full potential of our new markets this year.