Statement of Administration Policy: H.R. 4996 - Jobs Through Exports Act of 1992

(House Floor)
(Gejdenson (D-CT) and 21 others)

The Administration would support H.R. 4996, the Jobs Through Exports Act of 1992, if the following provisions are deleted or modified:

—   Title III, which establishes an office of Capital Projects in the Agency for International Development (AID), requires numerous new reports of excessively broad scope, and imposes restrictions on the sources of funding for financing capital projects. These provisions are unnecessary and place burdensome restrictions on the management of AID programs.

—   Title IV, which requires the Secretary of Commerce to establish U.S. commercial centers in designated countries. This requirement unnecessarily micromanages Commerce's U.S. and Foreign Commercial Service.

—   Several constitutionally questionable provisions, which pose problems under the Appointments Clause or infringe upon the President's foreign affairs powers. (Sections 232(c)(2)(D) and (E), and 234(c)(4) of the Foreign Assistance Act, as amended in section 105; and sections 305 and 401.)

—   Authorization of appropriations in excess of the President's request for the Trade and Development Program and the Overseas Private Investment Corporation (OPIC). If these increased levels are appropriated, undesirable cuts would be required in other essential foreign assistance programs.

The Administration strongly opposes the amendments to be offeree by Representative Andrews (NJ), which would abolish OPIC or restrict its ability to mobilize the U.S. private sector in support of American job creation and other national interests. The Administration believes OPIC is an important element of the Support for Eastern European Democracy (SEED) program, the Enterprise for the Americas Initiative (EAI), and other bipartisan foreign policy initiatives, including assistance to the former Soviet Union.

The Administration urges that H.R. 4996 be amended to reauthorize OPIC for five years. The three-year reauthorization included in H.R. 4996 would severely handicap development of long-term investment strategies by U.S. businesses, particularly in the former Soviet Union. Further, it would limit OPIC's ability to plan and manage its investment portfolio on a long-term strategic basis.

The Administration strongly supports adoption of the amendment to be offered by Representative Bereuter, providing needed authorization for the Enterprise for the Americas Initiative. The Initiative would enhance U.S. national security and economic interests by improving the lives of the people of Latin America and the Caribbean through market oriented reforms and economic growth.