Tropical Forest and Coral Reef Conservation Reauthorization Act of 2020

Floor Speech

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Mr. ESPAILLAT. Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 7954) to reauthorize the Tropical Forest and Coral Reef Conservation Act of 1998.

The Clerk read the title of the bill.

The text of the bill is as follows: H.R. 7954

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE.

This Act may be cited as the ``Tropical Forest and Coral Reef Conservation Reauthorization Act of 2020''. SEC. 2. REAUTHORIZATION.

Section 806(d) of the Tropical Forest and Coral Reef Conservation Act of 1998 (22 U.S.C. 2431d(d)) is amended by adding at the end the following new paragraphs:

``(9) $20,000,000 for fiscal year 2021.

``(10) $20,000,000 for fiscal year 2022.

``(11) $20,000,000 for fiscal year 2023.

``(12) $20,000,000 for fiscal year 2024.

``(13) $20,000,000 for fiscal year 2025.''.

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Mr. ESPAILLAT. 7954.

Mr. Speaker, I am pleased to support this measure brought forward by my friend from Ohio (Mr. Chabot), to provide continued funding for the Tropical Forest and Coral Reef Conservation Act, what we call the TFCA, for fiscal years 2021 through 2025.

The purpose of the TFCA is to offer developing countries the option to direct a portion of their debt payments to local forest and coral reef conservation activities instead of making those payments to the U.S. Government.

Since the TFCA was enacted in 1998, it made real differences in efforts to preserve and protect these fragile ecosystems. The State Department has reached 20 separate bilateral agreements with 14 countries, resulting in over $339 million in long-term commitment to conserve tropical forests.

This bipartisan legislation takes significant strides to build stronger relationships with countries around the world, while ensuring that irreplaceable tropical forests and coral reefs are protected and preserved for future generations.

I am pleased to support this legislation, and I reserve the balance of my time.

Mr. WILSON of South Carolina.

Mr. Speaker, I rise in support of H.R. 7954, the Tropical Forest and Coral Reef Reauthorization Act of 2020, led by Representative Steve Chabot from Ohio and Brad Sherman from California.

Congress first enacted this important legislation in 1998. The legislation allows eligible developing countries to restructure certain debt owed to the U.S. Government and, in turn, generates additional revenue to support tropical forest or coral reef conservation projects. These agreements also reinvest in locally led civil society and conservation organizations that take ownership of this critical restoration work.

According to The Nature Conservancy, agreements under this program have saved more than 67 million acres of tropical forest in countries such as Botswana, Brazil, the Philippines, and Indonesia.

Since first enacted, the Tropical Forest Conservation Act has generated almost $340 million in local currency for tropical forest conservation projects. These are substantial investments in the health of our world's most critical forests and an investment in future generations.

I urge my colleagues to support this important measure.

Mr. WILSON of South Carolina. Mr. Speaker, I am pleased to yield 4 minutes to the gentleman from Ohio (Mr. Chabot), the sponsor of the bill.

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Mr. ESPAILLAT. Mr. Speaker, once again, I thank Mr. Chabot for his leadership.

Mr. Speaker, I also would like to take this opportunity to thank Mr. Eliot Engel, the chair of this committee, for his many years of distinguished service in Congress ably representing his district, the State of New York, and our country here in the Halls of Congress while presiding and leading the Foreign Affairs Committee. Today is a testament of all the great work that he has done across the aisle with many Members who have, of course, contributed tremendously to the dialogue.

Mr. Speaker, I urge a ``yes'' vote, and I yield back the balance of my time.

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