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Public Statements

Export-Import Bank Reauthorization Act of 2012

Floor Speech

By:
Date:
Location: Washington, DC

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Mrs. CAPPS. Mr. Speaker, I rise today in support of H.R. 2072, the bipartisan Securing Jobs Through Exports Act.

Other nations are aggressively supporting their businesses' exports, making it more important than ever to help American manufacturers secure the financing they need to compete in foreign markets.

The Export-Import Bank helps make this happen, creating middle class jobs here at home and boosting our economic competitiveness by investing in a strong manufacturing sector that builds and exports products around the world.

Just last year, the Bank provided $32 billion in financing to thousands of companies, which supported nearly 290,000 American jobs. Over 80 percent of those transactions directly supported small businesses.

In my district alone, the Bank supported over $36 million in sales over the last five years, helping innovative Central Coast businesses like Mafi-Trench and CoreSulpher grow and hire.

The Securing Jobs Through Exports Act will provide the necessary tools and resources for the Bank to continue this important work.

It reauthorizes the Bank for three years, giving U.S. businesses the certainty they need, and incrementally increases the exposure limit to $140 billion by fiscal year 2014 in response to the growing demand for Ex-Im financing.

The bill will also make Ex-Im more effective and accountable by funding technology upgrades and requiring additional reporting to Congress.

This bipartisan legislation has broad, bipartisan support from both labor and business groups, including the Chamber of Commerce, International Association of Machinists and Aerospace Workers, NAM, and Business Roundtable.

Mr. Speaker, as our fragile economy continues to recover, we must ensure American businesses have the tools they need to compete in the global market place and create jobs for workers here at home.

This bipartisan legislation will help do exactly that.

I urge my colleagues to support H.R. 2072.

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