Export Promotion Programs How is Small Business Helped Hearing Before the S
Export Promotion Programs How is Small Business Helped Hearing Before the S
Exports United States Congress House Committee On Small
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Ms. Clegg. First of all, on your numbers, the baseline budget for Eximbank this year is $823 million with $47 million in addition to that which is the actual administrative expenses for employees, salaries, et cetera. That $823 million, we have a slight increase this year. We also have carryover authority. A lot of our money is not appropriated just for 1 year, it is appropriated and then it rolls over for a couple of years. This is the money that is going for Russia and the NIS and also money ...for tied aid authorities so we can match what other governments are doing. The reason the money is not 1-year money is because it takes along time to develop the deals and we have to have this on reserve in order to do it. 26 Chairman Manzullo. For payouts, I understand. Ms. Clegg. The payout is much longer. But your basic question was whether or not we get credit for the profits that the bank actu- ally makes and the answer is no. It goes into the U. S. Treasury. Chairman Manzulix). So that is different from how OPIC oper- ates?
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