Subsidized Trade with Vietnam. \"Vietnam has historically not been eligible to take advantage of American taxpayer-funded programs which subsidize business deals between American companies and the Communist Government agencies in Hanoi,\" explained Senator Robert Smith (R-NH). \"That is, until last year.\"
In 1998 President Clinton issued a waiver of the Jackson-Vanik law for Communist Vietnam, giving a green light to federal corporate subsidy programs beneficial to the Red regime. Sen. Smith\’s legislation would overturn Clinton\’s waiver and ban taxpayer subsidies from going to the butchers in Hanoi through programs such as the Overseas Private Investment Corporation, Export-Import Bank, and U.S. Department of Agriculture subsidy programs.
A discharge motion on Sen. Smith\’s bill (S. J. Res 28) would have brought the measure from the Finance Committee to the floor for a vote on passage. The Senate rejected the motion on July 20, 1999 by a vote of 5-94 (Roll Call 214). We have assigned pluses to the yeas.
