A bill to amend the Export-Import Bank Act of 1945 with respect to credit to Communist countries, and for other purposes.

Summary

Amends the Export-Import Bank Act of 1945 to increase from $50,000,000 to $100,000,000 the amount of a proposed loan to a Communist nation that must be reviewed by the President. Prohibits the Export-Import Bank from having more than $2,000,000,000 in outstanding loans or guarantees to Communist nations. Repeals the provision requiring the Board of Directors of the Bank to approve loans or guarantees in excess of $25,000,000 to the Soviet Union for energy related exports. Amends the Trade Act of 1974 to require the President to determine whether a foreign nation seeking most-favored-nation treatment is permitting its citizens the right or opportunity to emigrate. Authorizes the President to grant a waiver of provisions prohibiting most-favored-nation status, credits, and commercial agreements to countries denying freedom of emigration for: (1) one year to countries not previously granted a waiver; or (2) five years to countries previously granted a waiver. Stipulates that either House may disapprove such waiver within 60 days. Authorizes the President to recommend to the Congress a five-year extension (presently one year extension) of the waiver of provisions prohibiting most-favored-nation status, credits, and commercial agreements to countries denying freedom of emigration. Repeals the limitation on credit to the Soviet Union.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 8 February 1979

   Introduced

   Referred to House Committee on Banking, Finance and Urban Affairs.

   Source: IntroReferral

2. 8 February 1979

   Introduced

   Introduced in House

   Source: IntroReferral

3. 8 February 1979

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 8 February 1979

  Open at official source

Sponsors

• Rep. AuCoin, Les [D-OR-1] · D · Sponsor
• Rep. LaFalce, John J. [D-NY-36] · D · Cosponsor
• Rep. Stanton, J. William [R-OH-11] · R · Cosponsor
• Rep. Weaver, James H. [D-OR-4] · D · Cosponsor
• Rep. Edgar, Robert W. [D-PA-7] · D · Cosponsor
• Rep. Patterson, Jerry M. [D-CA-38] · D · Cosponsor
• Rep. Baldus, Alvin J. [D-WI-3] · D · Cosponsor
• Rep. Ashley, Thomas L. [D-OH-9] · D · Cosponsor
• Rep. Lundine, Stanley N. [D-NY-39] · D · Cosponsor
• Rep. Alexander, Bill [D-AR-1] · D · Cosponsor
• · hswm00 · Standing
• · hsba00 · Standing

Related records

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