Reauthorization of the Export-Import Bank

Floor Speech

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Mr. DURBIN. Mr. President, I want to thank my colleague from Washington for taking the floor and supporting the reauthorization of the Export-Import Bank. She has been diligent in coming to Congress and explaining that this agency not only facilitates exports from the United States, which creates jobs and helps businesses here, but it also generates a surplus for the Treasury. What is wrong with that picture? Why would the Republicans be so opposed to an agency that helps American businesses, large and small, export more goods and doesn't cost the Federal Government any money? Why do they want to kill this agency? Why do they want to kill these jobs? I don't understand it.

We had a vote on the floor of the Senate a few weeks ago on the Transportation bill to reauthorize the Export-Import Bank and it passed. We sent it over to the House of Representatives which, sadly, has become the graveyard for big issues, important issues when it comes to the future of America. I hope it changes. I hope they will listen to business leaders--that Republicans in the House will listen to business leaders and not just Boeing aircraft. Of course I am interested in that. It is headquartered in Chicago and is a major employer in the United States, but large and small companies alike feel the same. Export-Import Bank gives our companies in America the ability to finance export deals so they can compete with other countries.

When we decide--or at least some in the Senate decide--to take the United States out of the export business, who is going to step in? Who will take over and create the jobs? Sadly, our competitors, China. They are not waiting around for their legislature, whatever it may be, to give permission for them to dramatically increase exports. They are on the road to do that. I support what the Senator from Washington said.

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