Jubilee Act for Responsible Lending and Expanded Debt Cancellation of 2008

Floor Speech

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Mr. MARIO DIAZ-BALART of Florida. Madam Speaker, this motion to recommit is frankly very simple. All it basically says is that countries that have business relationships with Iran are not eligible to be considered under this debt relief program. Let me repeat that.

This motion to recommit is frankly very, very simple. It just states the following, that countries that have a business relationship with Iran are not eligible to be considered under this debt relief program.

Now, the underlying bill in front of us today has a very noble goal, Madam Speaker. It is to work comprehensively to ensure that poor countries that have heavy international debt are able to relieve these debts through certain responsible actions. But the question is, should we separate these goals, these noble goals, from our broader foreign policy interests?

The Iranian regime, we all know, has a very active program to acquire weapons of mass destruction, and therefore, it makes it one of the most dangerous regimes in the entire world.

In addition, Madam Speaker, as we heard just recently, just last week from General Petraeus, we are increasingly concerned by the Iranian terrorist regime's efforts on behalf of terrorist elements in Iraq and elsewhere. The lives of our troops are at stake, and any country that assists Iran economically should not benefit from the bill in front of us today.

Our country, obviously the United States, does not have diplomatic or financial ties to Iran, and I don't think it's unreasonable to expect that countries that choose to participate in our debt relief program should shatter whatever economic ties they currently have with that terrorist regime. And if they don't have them now, if they don't have those ties now, they clearly should not develop them as long as they want or expect debt relief from us through this program.

Let's send the right message today, Madam Speaker. Americans are very generous and responsible in regard to the treatment of countries that owe us great debt. But we are also extremely concerned with the very dangerous actors abroad, around this world.

So that's why, Madam Speaker, I respectfully ask to pass this motion to recommit today and make sure that our friends abroad appreciate how seriously we take this matter.

I yield back the balance of my time.

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Mr. FRANK of Massachusetts. First of all, let me ask, if I could, the gentleman says, the government of which does not have business interest with Iran. Would this wording cover the Government of Iraq?

I would yield if someone would tell me that, that they may not be eligible for debt relief. Although we give them a lot of money, I don't think we lent it to them. But would someone tell me if this would include the Government of Iraq as currently constituted?

I would yield for a response. I yield to anyone who would respond.

I yield to the gentleman from Florida.

Mr. MARIO DIAZ-BALART of Florida. Iraq is not eligible under this bill.

Mr. FRANK of Massachusetts. I understand that. Iraq is not currently there, but here's the deal. This is not just for now. It is conceivable to me that Iraq will end up owing us money. I hope it will, because we've sure given them a lot, and if they don't owe us any money, it's a big gift.

So the question is going forward, if in the future, because there is no current list of countries, we're talking about an eligibility criteria. Would this prevent debt relief from the United States or the International Monetary Fund, to the World Bank, to Iraq going forward?

I would yield to anyone who would answer.

Mr. MARIO DIAZ-BALART of Florida. If the gentleman would yield.

Mr. FRANK of Massachusetts. Yes.

Mr. MARIO DIAZ-BALART of Florida. Again, your bill, as you know, specifically deals with countries that owe the United States right now. You're talking about a hypothetical, whether one country in the future.

Mr. FRANK of Massachusetts. I will take back my time because I'm trying to get an honest answer.

We are setting policy here, not just for this week. We are saying here that if you do business with the government, if your government has business interests with Iraq, you're ineligible. I think it is fair to ask whether Iraq, if it were to become eligible in other ways, would be covered. That's not a trick question. Would this have the effect of excluding Iraq from such a program in the future?

I yield for an answer.

Mr. MARIO DIAZ-BALART of Florida. Will the gentleman yield?

Mr. FRANK of Massachusetts. Yes.

Mr. MARIO DIAZ-BALART of Florida. And I will try to see if I can make this answer understood.

In the first place, obviously no country would benefit more from not having a nuclear Iran.

Mr. FRANK of Massachusetts. Reclaiming my time, we only get 5 minutes. You know, if the minority had wanted to put this forward as an amendment, we could have debated it. They did it this way. So we can debate all of the other things. It's a very straightforward question.

You limit eligibility under this program. Iraq might very well owe us money. The question isn't nuclear weapons. It is, would this prevent Iraq from being eligible, these criteria. And I would hope someone would answer that.

I will yield again for an answer.

Mr. MARIO DIAZ-BALART of Florida. If the gentleman will yield again, and I will try to answer it again.

Your bill does not deal with Iraq. It does not affect Iraq. If you don't like the answer, that's one thing, but that's what the answer is.

Mr. FRANK of Massachusetts. No. The answer is, of course, one that leads me to suggest that the answer really is ``yes.'' When people dance around and won't give you the answer, Madam Speaker, the answer is ``yes.''

Apparently, under the criteria set forward here, while Iraq is not now on the list for relief, it could not get it in the future. We will be setting policy that would have screwed you up because apparently, as this is defined, I infer that the Government of Iraq is covered because if the Government of Iraq wasn't covered by this, the answer would be ``no.'' When I don't get ``no,'' but when I get a discussion of nuclear weapons and what's currently in the bill and I don't get an answer to the question, then it is clear to me.

So Members, I guess, are free to vote on this.

Mr. MARIO DIAZ-BALART of Florida. Would the gentlemen yield?

Mr. FRANK of Massachusetts. No, I'm sorry.

Here's the response. The minority had the right to offer this in a way in which we could debate it. They didn't choose to do that. They chose to do it in this limited fashion.

So it does look to me like you are having problems here that does the Government of Iraq have business interests with Iran. I know there are close ties between the Governments of Iraq and Iran. There's interchangeability.

I think this is a pretty sketchy way to go forward. I'm not sure that there are any other countries. I think Iraq may be one of the few that doesn't. It's fairly narrowly drawn, but that's of great concern. And I couldn't get a direct answer, and I don't know if anybody really knows it.

Mr. MARIO DIAZ-BALART of Florida. Will the gentleman yield for a one-word answer?

Mr. FRANK of Massachusetts. Yes.

Mr. MARIO DIAZ-BALART of Florida. You're asking if it's ``yes'' or ``no.'' The answer is ``no.''

Mr. FRANK of Massachusetts. So the gentleman is telling me that the Government of Iraq has no business interests in Iraq?

Mr. MARIO DIAZ-BALART of Florida. What I'm telling the gentleman--

Mr. FRANK of Massachusetts. No. I'm asking the question, does the government--

Mr. MARIO DIAZ-BALART of Florida. Not as it concerns with this bill.

Mr. FRANK of Massachusetts. No, I'm sorry. The gentleman does not seem to understand the rules. I'm giving you a lot more of my time. Well, I guess free speech that we put in is for other countries.

Look, I understand the thought. The minority thought they came up with a clever idea and they outsmarted themselves. They put language in here that I think would interfere with the ability to have economic relations with Iraq. And apparently what I'm being told is if you believe that the Government of Iraq has no business interests with Iran, then you can vote for this bill and not worry about Iraq.

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