Michelle Wu: “I rise today on behalf of small business owners and workers in my home State of Oregon and in opposition to the…”

“I rise today on behalf of small business owners and workers in my home State of Oregon and in opposition to the amendment offered by the gentleman from New Jersey (Mr. Andrews). This amendment to abolish OPIC would damage the efforts of Oregon's small businesses in emerging markets overseas. In Oregon, OPIC has financed and insured projects worth $27 million. These efforts have generated over $33 million in Oregon exports. Many new jobs come through businesses that supply goods and services to projects insured or financed by OPIC, businesses like Hyster Sales Company in Tigard, Oregon, and Interwrap Industries in Portland, Oregon. OPIC helps level the playing field for American businesses of all sizes which compete for overseas projects. OPIC offers American businesses essential risk insurance for their investments in high-risk emerging markets. It provides temporary financing for investments when private sector support is lacking. But OPIC does all of this in a fiscally sound manner. Customers which benefit from OPIC repay the full principal amount. I urge my colleagues to vote ``no'' on the Andrews amendment.”