The provision that I am referring to repeals restrictions on ExportImport Bank financing which limit aggregate loans and loan guarantees for projects with the former Soviet Republics to $300 million. These restrictions. which are part of the Trade Act of 1974 and the ExportImport Bank Charter Act. are collectively known as the ByrdStevenson amendments. Restrictions on Exim financing with the Soviet Union made sense during the cold war when our economic interests were in conflict with the Soviets and when the U.S.S.R. officially impeded emigration of its citizens. The ByrdStevenson restrictions no longer make sense in view of the political changes that have taken place in that part of the world. The United States needs jobs.
Keywords matched
emigration