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Export-Import Bank Reauthorization Act of 2012

Floor Speech

By:
Date:
Location: Washington, DC

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Mr. LARSEN of Washington. Mr. Speaker, I rise today to urge my colleagues to vote in favor of H.R. 2072, the Securing American Jobs Through Exports Act.

The Export-Import Bank creates jobs, reduces our trade deficit, and helps to lower our national debt. It's a tool that our manufacturers--both large and small--use to expand their sales to customers around the world so they can keep creating jobs here at home.

In Washington State's Second Congressional District, the Ex-Im Bank has helped finance the sale of more than $22 billion in exports from 13 companies, including, importantly, seven small businesses.

Last week, I sat down with three businesses in my district that have used the bank. The CEO of one of these companies told me the bank has been indispensable in allowing their business to grow and support 25 full-time employees.

I was very pleased to introduce a bipartisan bill earlier this year with Congressman Manzullo to reauthorize and expand the Ex-Im Bank and am very happy that Whip Hoyer and Leader Cantor were able to work out this sensible, bipartisan agreement that is largely in line with the bill I introduced, H.R. 4302.

I call on my colleagues to pass this bill so we can keep America open for business.

I urge my colleagues to vote in favor of H.R. 2072, the Securing American Jobs Through Exports Act.

The Export-Import Bank creates jobs.

It reduces our trade deficit.

And helps to lower our national debt.

It is a tool that our manufacturers, both large and small, use to expand their sales to customers around the world so they can keep creating jobs here at home.

In Washington's 2nd Congressional District, the Ex-Im Bank has helped finance the sale of more than $22 billion in exports from 13 companies, including 7 small businesses.

Last week I sat down with three businesses in Whatcom County that have used the Bank.

They told me the Bank is a critical tool, without which they would not be able to sell overseas.

The CEO of one of those companies, Western Chemical in Ferndale, Wash., which makes fish health products, told me the Bank has been, quote, ``indispensable in allowing our business to grow to $2M in annual Washington State exports this year and $5 million next year and supports 25 full-time employees.''

The Bank also supports our much larger exporters.

Hundreds of the women and men who make the Boeing 767, 777, and new 787 aircraft in Everett, Wash., recently wrote me urging Congress to reauthorize the Bank because their jobs and our local economy rely on it.

The Ex-Im Bank has been so successful in recent years in boosting our exports that its lending authority needs to be expanded to keep up with our growing manufacturers.

I was proud to introduce a bipartisan bill earlier this year with Congressman Manzullo to reauthorize and expand the Ex-Im Bank.

I am pleased that Whip Hoyer and Leader Cantor were able to work out this sensible, bipartisan agreement that is largely in line with the bill I introduced, H.R. 4302.

I know some of the critics of this bill will call this corporate welfare and say it is government manipulating in the market.

The fact of the matter is every other major economy has a similar export-promotion program, and if we were to let the Ex-Im Bank expire, it would only help foreign companies at the expense of American exports and American jobs.

Not only that, but the Ex-Im Bank is an investment that pays dividends back to the U.S. taxpayer, helping to reduce our deficit by $1.9 billion in the last five years alone.

Thousands of workers in my district and around the country depend on the Ex-Im Bank for their jobs.

I thank Whip Hoyer and Leader Cantor for their work on this bill, as well as Congressman Manzullo for his work with me on this issue.

I call on my colleagues to pass this bill so we can keep America open for business.

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Mr. LARSEN of Washington. Mr. Speaker, I submit the following materials in support of H.R. 2072, the Export-Import Bank Reauthorization Act, as amended.

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