Export-Import Bank Reauthorization
Floor Speech
BREAK IN TRANSCRIPT
Mrs. BEATTY. Mr. Speaker, thank you to Ranking Member Congresswoman Maxine Waters.
Mr. Speaker, I rise today in strong support of the Export-Import Bank and current legislation, H.R. 4950, to reauthorize the bank introduced by my freshman colleague and fellow Financial Services Committee member, Congressman Heck from Washington.
The Export-Import Bank has been helping United States businesses of all sizes sell their products around the world for over 80 years. But despite the bank's proven track record of creating jobs, helping American businesses compete globally, and reducing the Federal deficit, a faction of House Republicans want to close the door of this important Federal agency forever.
Mr. Speaker, shutting down the Export-Import Bank makes no sense to me, and it makes no sense to my constituents. In my congressional district, Ohio's Third, 10 companies, including six small businesses, have grown because of the Export-Import Bank. These businesses have been able to expand sales internationally and create jobs locally because of the Export-Import Bank.
Earlier this month I received a letter from the CEO of Yenkin-Majestic Paint, a manufacturer in my district. In his letter, he writes: ``Normally we would not write in context of Washington crosscurrents about the bank. However, it would be very unfortunate if the Congress cannot reach a responsible bipartisan reauthorization of this work to encourage commerce for American-made products abroad and to help expand U.S. employment from sales beyond what is available on the home front.''
Mr. Speaker, this is just one of many letters I have received from affected constituents.
I have also heard from a young man who works at International Risk Consultants, a Columbus-based company that provides guidance to small businesses to export internationally. He writes: ``The Ex-Im Bank offers trade finance solutions that work for small businesses that cannot find alternatives in the private market.''
He closes his letter in this way, I think most telling: ``Perhaps the most devastating effect of not reauthorizing the Ex-Im Bank will be visited upon the many firms that never began exporting but would, if they were introduced to Ex-Im Bank solutions.''
Mr. Speaker, Congress should not allow an extreme faction of the Republican Conference to execute an ill-conceived and destructive plan to close Export-Import Bank. My constituents deserve better. Ohioans deserve better, and the American people deserve better.
I urge the House Republican leadership to bring H.R. 4950, a bill with over 200 cosponsors, to the floor so we can keep the Export-Import Bank operating and, more importantly, keep Americans working.
BREAK IN TRANSCRIPT
Source