Beatty Votes for Five-Year Highway Trust Fund Reauthorization

Statement

Today, U.S. Congresswoman Joyce Beatty (OH-03) supported five-year funding legislation to improve the Nation's surface transportation infrastructure, including roads, bridges, transit systems, and rail transportation networks. The Fixing America's Surface Transportation (FAST) Act, H.R. 22, passed by a vote of 359-65. The legislation also contains a number of other critical items.

"After shortchanging and endangering the American people with 36 short-term extensions in the last six-years, Congress finally produced a comprehensive, strategic, and long-term funding bill," said Rep. Beatty. "This legislation addresses the most immediate needs in our surface transportation system while updating a number of programs and processes to allow for greater efficiency and rapid deployment of transportation resources."

H.R. 22 provides $305 billion in highway funding for five years and calls for $205 billion in spending on highways and $48 billion on transit projects. It also reauthorizes the charter of the Export-Import Bank until 2019.

"Members of Congress finally resuscitated the Ex-Im Bank after letting it expire unnecessarily. Whether it is the thousands of companies and more than 200,000 jobs the Ex-Im Bank supports, or the federal revenue it generates, it is clear that the renewal of the Bank's charter is good business," said Rep. Beatty.

A member of the powerful House Committee on Financial Services, Beatty is a leader on the revival of the Bank having advocated on the House Floor, spoken at press conferences and committee hearings, engaged national media, written opinion pieces, and visited with businesses that use the Bank in her Congressional District. The charter for the Export-Import Bank of the United States expired on June 30, 2015. Members of Congress, both Republicans (42) and Democrats (176), signed a discharge petition led by Rep. Fincher on October 9, 2015 to reauthorize the Export-Import Bank until September 30, 2019. A discharge petition has not been successfully used since 2002. Beatty was the 42nd Member and 6th Democrat to sign the petition. A vote on the legislation to renew the bank's charter passed the House on October 29 , 2015 by a vote of 313-118.

Since 2007, in Ohio's 3rd Congressional District which Beatty represents, 14 businesses, which include 8 small businesses, one minority-owned business and one women-owned business, have benefited from the Export-Import Bank, with more than $71 million in exports directly supported by the Bank. Also, in Ohio, the Bank has supported: $2.71 billion in export sales, 326 companies, and 17,340 jobs. In addition to the individual businesses specifically impacted by the Ex-Im Bank, business and labor groups including the Chamber of Commerce, the National Association of Manufacturers, and AFL-CIO have been urging reauthorization of the Bank's charter.

The FAST Act also contained legislation sponsored by Rep. Stivers (OH-15), on which Beatty was the lead Democrat. The legislation, the Capital Access for Small Financial Institutions Act of 2015, H.R. 299, will allow privately-insured credit unions to apply for membership in the Federal Home Loan Bank System. The legislation helps provide individuals and businesses greater access to credit in a tight credit-market. Beatty was an outspoken leader and was able to modify the bill to garner bipartisan support.

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