OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Extending the Authorities of the Overseas Private Investment Corporation

Floor Speech

Date: Sept. 17, 2007
Location: Washington, DC
Issues: Legislative Branch

EXTENDING THE AUTHORITIES OF THE OVERSEAS PRIVATE INVESTMENT CORPORATION -- (House of Representatives - September 17, 2007)

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Mr. SMITH of New Jersey. Mr. Speaker, I yield myself such time as I may consume.

I rise in support of the bill, H.R. 3527, a bill that would extend the authorization of the Overseas Private Investment Corporation until November 30 of 2007.

Mr. Speaker, on July 23, as my good friend Mr. Faleomavaega just said, the House passed H.R. 2798, a bill to reauthorize OPIC through September 30 of 2011. That measure had previously been favorably reported by the House Committee on Foreign Affairs by a vote of 26-5, totally bipartisan. To date, however, the other body has not acted, requiring us to take this stop-gap measure to continue the authorization for this legislation. We hope they act soon on the Senate side so that the President can be sent a bipartisan bill that can be signed.

Mr. Speaker, I yield back the balance of my time.

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