Political Quotes

“In response to some of the arguments that have come up earlier, I would like to make just a couple of observations, one dealing with the Overseas Private Investment Corporation. It is charging user fees historically, and it is a U.S. Government agency that operates at no net cost to U.S. taxpayers. OPIC has earned a net profit in each year of operations, $125 million in fiscal year 2001, and its reserves currently stand at more than $4 billion. OPIC projects have also generated $64 billion in U.S. exports and created nearly 250,000 American jobs. OPIC projects are carefully screened for their U.S. employment effects. OPIC does not support any projects that might harm the U.S. economy or that would result in the loss of U.S. jobs. It is imperative that we continue Vietnam's Jackson-Vanik waiver. It is in the United States' interest to have an economically healthy Vietnam that is engaged with a global community of nations. Vietnam is currently negotiating its accession to the World Trade Organization; and I fully support that effort, provided it is based on commercially sound terms. The BTA and its implementation offer an important road map for Vietnam to follow to help achieve that goal. Although Vietnam has far to go in improving human rights for its people, withdrawing the Jackson-Vanik waiver would eliminate our ability to influence its policies. I urge my colleagues to defeat this resolution.”