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Harold R.
Republican KY 5

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  • Provision of Costs of Loan Guarantees for Ukraine

    by Representative Harold Rogers

    Posted on 2014-03-06

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    ROGERS of Kentucky. Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 4152) to provide for the costs of loan guarantees for Ukraine.

    The Clerk read the title of the bill.

    The text of the bill is as follows: H.R. 4152 Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. PROVISION OF COSTS OF LOAN GUARANTEES FOR UKRAINE.

    From amounts appropriated or otherwise made available under ``Economic Support Fund'' in division K of the Consolidated Appropriations Act, 2014 (Public Law 113-76), and prior Acts making appropriations for the Department of State, foreign operations, and related programs, funding from unobligated balances shall be made available for the costs, as defined in section 502 of the Congressional Budget Act of 1974, of loan guarantees for Ukraine, which are authorized to be provided in an appropriations Act, in accordance with section 504 of the Congressional Budget Act of 1974: Provided, That amounts made available for the costs of such guarantees shall not be considered ``assistance'' for the purpose of provisions of law limiting assistance to such country: Provided further, That none of the funds may be made available from amounts designated pursuant to section 251(b)(2)(A) of the Balanced Budget and Emergency Deficit Control Act of 1985.

    The SPEAKER pro tempore. Pursuant to the rule, the gentleman from Kentucky (Mr. Rogers) and the gentlewoman from New York (Mrs. Lowey) each will control 20 minutes.

    The Chair recognizes the gentleman from Kentucky.

    General Leave Mr. ROGERS of Kentucky. Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days in which to revise and extend their remarks on the consideration of H.R. 4152.

    The SPEAKER pro tempore. Is there objection to the request of the gentleman from Kentucky? There was no objection.

    Mr. ROGERS of Kentucky. Mr. Speaker, I yield myself such time as I may consume.

    Mr. Speaker, I am pleased to bring to the floor H.R. 4152, a bill providing the authority for loan guarantees for Ukraine.

    As we all sadly know, Ukraine is facing an extraordinarily difficult time. As a valued partner and friend of the United States, our Nation has a duty to provide the people of Ukraine with help when they now need it most.

    This bill will provide some stability for the government and the people of Ukraine as they navigate through these troubled waters. The legislation before us will allow funds to be used to guarantee loans for the Government of Ukraine, in support of the Secretary of State's $1 billion pledge this week. This bill does not appropriate new funds, but simply allows funds to be used from existing State Department resources.

    Ukraine's economy has been in a difficult position for years, but now the country faces, of course, real risks. Russia has punished Ukraine for leaning toward the West and has suspended the assistance they planned to provide.

    This bill will not solve all of Ukraine's problems, obviously, but it is an important first step that will allow the country to shore up its finances and begin to make its economy more efficient.

    With this legislation, Congress--and the United States--will show that we stand by those that oppose authoritarian rule. It will show that, as a nation, we will step up to help the people of Ukraine not only with our words, but with our deeds.

    Ukraine is facing an uncertain economic future, Mr. Speaker, but they are choosing the right path of democracy and reform. The American people will stand with the Ukrainian people as they chart this new course, and today we will take a first step to quickly respond to their present need.

    Mr. Speaker, this is a critically important bill and one that should pass the House and the Senate and be enacted into law without delay. I urge a ``yes'' vote.

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