Reauthorization of the Export-Import Bank: Hearing Before the Subcommittee on International Monetary Policy and Trade of the Committee on Financial Services, U.S. House of Representatives, One Hundred Seventh Congress, First Session, May 2, 8, 2001, Volume 4 |
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Common terms and phrases
activities Administration agricultural Bank's Becker benefit BENTSEN Benxi Bergsten Blackwelder capital Cato Institute Chairman BEREUTER China Christman commercial banks companies compete competition competitors CONGRESS THE LIBRARY corporate welfare corporations costs developing countries Doug Bereuter ECAs economic environmental equipment Ex-Im Bank Exim Eximbank export credit agencies export financing Export-Import Bank fiscal Fred Bergsten funding global going guarantees hearing HESS Ian Vásquez impact increase industry Institute International Monetary Policy investment issue legislation lender level playing field LIBRARY OF CONGRESS loans mandate manufacturing market windows McLaughlin Members million OECD OECD Arrangement opportunity panel Policy and Trade President private sector program budget promotion proposed reauthorization reduce risk ROUKEMA SANDERS small business exporters STANGLAND steel Sub-Saharan Africa Subcommittee on International subsidies suppliers testify testimony Thank tied aid trade deficit transactions U.S. economy U.S. exporters UBAMADU United untied aid Vásquez Watson Machinery
Popular passages
Page 24 - To facilitate the expansion and balanced growth of international trade, and to contribute thereby to the promotion and maintenance of high levels of employment and real income and to the development of the productive resources of all members as primary objectives of economic policy.
Page 1 - Subcommittee met, pursuant to notice, at 1:30 pm in room 2172, Rayburn House Office Building, Hon. Doug Bereuter (Chairman of the Subcommittee) presiding. Mr. BEREUTER. The Subcommittee will come to order. The topic of today's Subcommittee hearing is "Democracy in Indonesia: Preparations for the National Election".
Page 144 - 18 million people who make things in America" — is the nation's largest and oldest multi-industry trade association. The NAM represents 14,000 members (including 10,000 small and mid-sized companies) and 350 member associations serving manufacturers and employees in every industrial sector and all 50 states.
Page 175 - The justification for much of this welfare is that the US government is creating jobs. Over the past six years, Congress appropriated $5 billion to run the Export-Import Bank of the United States, which subsidizes companies that sell goods abroad.
Page 165 - This is the most unfortunate aspect of export credit finance: it provides a temporarily painless way of financing projects conceived by over-optimistic civil servants, by politicians more concerned with immediate political advantage than with potential future economic problems, and by unscrupulous salesmen for the manufacturers of capital equipment in developed countries.
Page 175 - But the numbers at the bank's five biggest beneficiaries - AT&T, Bechtel, Boeing, General Electric and McDonnell Douglas (now a part of Boeing) - tell another story. At these companies, which have accounted for about 40% of all loans, grants and long-term guarantees in this decade, overall employment has fallen 38%, as more than a third of a million jobs have disappeared.
Page 92 - It is the policy of the United States to foster expansion of exports of goods and related services, thereby contributing to the promotion and maintenance of high levels of employment and real income and to the increased development of the productive resources of the United States.
Page 94 - The only way to reach the thousands of small businesses that could make use of our services is to expand our technological base, ultimately by making use of the internet, which involves significant capital investment. I would like to take this opportunity to review some of the major small business initiatives the Ex-Im Bank has undertaken since we were last rechartered.
Page 24 - Thank you, Mr. Chairman. I apologize to the witnesses for not being here for your testimony.