Smith Votes Against the Discharge Petition for Export-Import Bank Reauthorization

Statement

Congressman Lamar Smith (R-Texas) today voted against a procedural measure known as a discharge petition that would move forward with reauthorization of the Export-Import Bank without allowing for amendments or reforms.

Congressman Lamar Smith: "I support free and fair trade, and I have supported reauthorization of the Export-Import Bank in the past. But today's vote did not follow regular legislative procedure and did not give members of Congress the opportunity to improve or reform the Bank. I cannot support reauthorization without substantial reforms. To do so ignores new disturbing reports.

"One former loan officer pled guilty to 19 separate accounts of bribery. Four other employees were suspended for similarly questionable acts and improperly awarding contracts. We now know that almost 800 claims of fraud involving the Bank have been reported and 124 investigations were initiated by the bank's Office of Inspector General.

"I am pleased that Texas leads in American exports while receiving very little assistance from the Export-Import Bank. From 2009 to 2014, the Export-Import Bank supported only one-half of one percent of Texas exporters and only one-third of one percent of small businesses. I will continue my efforts against the real obstacles to job creation that Texans face: a mounting pile of federal regulations and a burdensome tax code that kills American jobs and threatens our competitiveness in a global economy.

"When the bank uses taxpayer funding to help a foreign company buy an American-made product, that same company gains an advantage over American businesses. For example, the Air Line Pilots Association estimates that the bank's support for just two foreign airlines -- Emirates and Air India -- has eliminated roughly 7,500 airline jobs here in the U.S.

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