Section 2(b) (3) of the act would be amended to prohibit the Bank from guaranteeing. insuring. or extending credit. or participating in the extension of credit to any nation which is engaged in armed conflict with the Armed Forces of the United States unless Congress determines each such transaction to be in the national interest through the approval of a concurrent resolution. Third. Section 2(b) of the act would be further amended to prohibit the Bank from guaranteeing. insuring. or extending credit. or participating in the extension of credit with respect to any nonmarket economy country which denies its citizens the right of emigration. This amendment would incorporate the language of the MillsVanik amendment as it applies to the operations of the ExportImport Bank. By a recorded vote of 319 to 80. the House adopted a floor amendment offered by Congressman CHARLES VANIK to the Trade Reform Act which would deny loans. credits. and guarantees to any nonmarket economy country which does not recognize the right of its citizens to emigrate. My amendment to the act would be consistent with the strong position taken by the House when it overwhelmingly approved the Vanik amendment to the trade bill. Fourth.
Keywords matched
emigrate emigration