Export-Import Bank

Floor Speech

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Mr. HOYER. Mr. Speaker, I want to thank my colleagues for allowing me to precede them.

I want to thank the gentlewoman from Florida. Of course, I am always glad to hear her speak on the floor. I wanted her to know that.

Mr. Speaker, we are now less than a month from the deadline for Congress to reauthorize the Export-Import Bank.

In 2012, this House came together under the leadership of the gentleman from Virginia, Mr. Cantor, who worked with my office, and we put a bill on the floor that reauthorized the Bank and increased its lending authority with a bipartisan vote of 330-93. This should not be and is not a partisan issue.

Helping small- and medium-sized American businesses access new overseas markets and compete on a level playing field is something that Democrats and Republicans have long agreed that Congress ought to do.

That is why it is deeply concerning to read comments from Majority Leader McCarthy that Congress should ``wind down'' the Bank and allow its charter to expire. That, in my view, is a minority opinion on the floor of this House, and that would be a profound mistake.

The Export-Import Bank is a critical tool that helps our businesses compete successfully in global markets. We are going to talk about trade, apparently, next week, but what we need to make sure is that we can export goods that are made in America, that we will make in America, and that we will sell abroad. The Export-Import Bank facilitates that effort. It is a critical tool that helps businesses compete successfully in global markets.

Last year alone, it supported $27.5 billion in export activity. About 90 percent of its transactions support thousands of small businesses that otherwise would have difficulty accessing markets.

The Ex-Im Bank has supported 1.3 million private sector jobs since our economic recovery began, including 164,000 jobs just last year, and it does all this without costing the taxpayers a single cent. In fact, it brought $675 million in profits to the Treasury last year and more than $2 billion over the past two decades. We cannot afford, Mr. Speaker, to let the bank expire.

Even more than just preventing a lapse, we ought to be providing exporters and potential exporters with certainty by enacting a multiyear reauthorization.

With the Export-Import Bank's future uncertain, businesses that could be reaching new customers abroad have been holding back making investments in growth that would create more jobs here at home. We are going to hear a lot about jobs here at home next week as we debate the fast-track authority. This deals with jobs here in America. With the Export-Import Bank's future uncertain, we are seeing uncertainty in the marketplace.

A multiyear extension and an increase in the bank's lending authority would give a green light to these businesses that it is time to invest and expand.

We all talk about investing. We all talk about expanding jobs. I want to quote: ``There are thousands of jobs on the line that would disappear pretty quickly if the Ex-Im Bank were to disappear.'' Let me repeat that for my colleagues. ``There are thousands of jobs on the line that would disappear pretty quickly if the Ex-Im Bank were to disappear.'' Those are not my words. That is a quote. They are the words of Speaker John Boehner on April 30 of this year, just a few weeks ago.

He is not the only Republican who wants to save the bank. Representative Stephen Fincher, Republican of Tennessee, has said that ``a majority of RSC members support the bank's reauthorization.'' RSC members are amongst the most conservative members of their party in this House. In fact, there are 59 cosponsors on Mr. Fincher's bill. They are Republicans.

All of my party, the last time we reauthorized it and this time, will vote to create jobs in America by voting for the Export-Import Bank. Now, we have 188 members. You don't have to be much of a mathematician to know if you have 188 and 60, that is 248. All you need is 218 to pass the bill.

The Speaker has said he wants to let the House work its will. He said that in 2011 when he became Speaker. And he said the House works best when the House can work its will. If we bring the Export-Import Bank bill to the floor, it will pass. Together with 180 Democrats, or 188--180 who have sponsored the 7-year reauthorization bill introduced by Ms. Waters, Ms. Moore, Mr. Heck, and myself--it is clear that a majority of the House supports a long-term reauthorization of the Export-Import Bank.

Mr. Speaker, we should act. We should act now before we find ourselves at the eleventh hour, before the June 30 deadline. Now, we have just seen shutting down the security apparatus to protect America for a couple of days. Let's not put at risk the economic security of our country.

Governors of both parties from across the country have written in support of taking action. Business leaders, the Chamber of Commerce, and organizations like the National Association of Manufacturers have all asked Congress to reauthorize the bank. There are now just 13 legislative days until the deadline by which we must do so.

Mr. Speaker, I ask our Speaker, I ask our majority leader, let the House work its will and vote on a multiyear reauthorization that will restore certainty for thousands of small businesses. Help them compete in new markets. Support the growth of good jobs here in our country, and contribute to deficit reduction. There will be a lot of debate next week about jobs. The Speaker believes that we will lose jobs if we don't pass the Export-Import Bank reauthorization.

Mr. Speaker, Mr. Leader, bring the Export-Import Bank reauthorization bill to the floor. It will pass. It will be good for America. It will be good for Americans. It will be good for our economy. Pass this bill.

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