COMMITTEE ON FOREIGN AFFAIRS NINETY-NINTH CONGRESS SECOND SESSION ON H.R. 3667 58-105 O FEBRUARY 4, 1986 Printed for the use of the Committee on Foreign Affairs U.S. GOVERNMENT PRINTING OFFICE WASHINGTON: 1986 COMMITTEE ON FOREIGN AFFAIRS DANTE B. FASCELL, Florida, Chairman LEE H. HAMILTON, Indiana GEO. W. CROCKETT, JR., Michigan PETER H. KOSTMAYER, Pennsylvania HARRY REID, Nevada MEL LEVINE, California EDWARD F. FEIGHAN, Ohio TED WEISS, New York GARY L. ACKERMAN, New York WILLIAM S. BROOMFIELD, Michigan BENJAMIN A. GILMAN, New York ROBERT J. LAGOMARSINO, California JIM LEACH, Iowa TOBY ROTH, Wisconsin OLYMPIA J. SNOWE, Maine HENRY J. HYDE, Illinois GERALD B.H. SOLOMON, New York DOUG BEREUTER, Nebraska MARK D. SILJANDER, Michigan ED ZSCHAU, California ROBERT K. DORNAN, California CHRISTOPHER H. SMITH, New Jersey CONNIE MACK, Florida MICHAEL DEWINE, Ohio DAN BURTON, Indiana JOHN MCCAIN, Arizona JOHN J. BRADY, Jr., Chief of Staff GEORGE INGRAM, Senior Staff Consultant BERNADETTE JENKINS, Staff Assistant (II) 26-601820 MATERIAL SUBMITTED FOR THE RECORD Statement submitted by Hon. Don Bonker, chairman of the Subcommittee on Letter dated November 27, 1985, submitted by Hon. Don Bonker, from the Congressional Budget Office to Hon. Fernand J. St Germain, chairman of the Committee on Banking, Finance and Urban Affairs, concerning the functional category of the competitive tied aid fund and its impact on other programs under the jurisdiction of the House Banking Committee as au- (III) COMPETITIVE TIED AID FUND ACT TUESDAY, FEBRUARY 4, 1986 HOUSE OF REPRESENTATIVES, Washington, DC. The committee met in open markup session at 10:25 a.m., in room 2172, Rayburn House Office Building, Hon. Dante B. Fascell (chairman) presiding. [Whereupon, the committee proceeded to other business.] COMPETITIVE TIED AID FUND ACT Chairman FASCELL. Are there any further comments? If not, the next item of business, H.R. 3667, Competitive Tied Aid Fund Act which the chief of staff will report. Mr. BRADY [reading]: H.R. 3667, a bill to eliminate unfair predacious export financing practices. Be it enacted by the Senate and the House of Representatives of the United States of America in Congress assembled Chairman FASCELL. Without objection, further reading of the bill will be dispensed with, printed in the record, and open for amendment. RECOMMENDATIONS OF THE SUBCOMMITTEE ON INTERNATIONAL The Chair recognizes the gentleman from Washington, the chairman of the subcommittee of jurisdiction. Mr. BONKER. Thank you, Mr. Chairman. This is not controversial, and should be acceptable to the committee, so I will be brief in my comments. I do have a statement that I would like to submit for the record. Chairman FASCELL. Without objection the full statement will be included in the record. [Mr. Bonker's prepared statement follows:] PREPARED STATEMENT OF HON. DON BONKER, CHAIRMAN, SUBCOMMITTEE ON Mr. Chairman, I appreciate your scheduling today's mark-up of H.R. 3667-the Competitive Tied Aid Fund Act of 1986-to permit the Committee to act on this measure before our review period ends February 7. The Subcommittee on International Economic Policy and Trade has followed the mixed credit issue closely over the last several years. We have often been the lone voice in Congress calling for a strong U.S. mixed credits program to counter this unfair trade financing practice by our industrialized partners. We are pleased that the Administration finally recognized the seriousness of this problem in the President's proposal of last September to create a $300 million "war chest." The President said: "the program is designed (1) |