Statement of Administration Policy: H.R. 4510 - Export-Import Bank Act Amendments of 1986

(House Rules)
(Rep. Neal (D) North Carolina)

The Administration supports a rule that would allow House passage of H.R. 4510 with amendments to:

— modify section 2 to eliminate the requirements that would constrain the Export-Import Bank's (Eximbank) use of the I-MATCH Program. The principal requirement is that the Bank give priority to financing export transactions through the use of direct loans;

— delete section 6 which allows unrestricted transferability of all Eximbank guarantees, because there is no evidence that unrestricted transferability would increase U.S. export sales. Such transferability would provide windfall benefits to some lenders and would put Eximbank obligations in competition with Treasury securities, raising interest costs to the general taxpayer; and

— modify section 8 to extend Eximbank authorization through September 30, 1991, rather than 1988.

Other provisions of H.R. 4510 are of concern, although to a lesser degree, and the Administration will seek in conference to have H.R. 4510 conform more closely to the Administration's proposal.