Poliquin on the GE Announcement Shipping Jobs Overseas

Statement

Maine's Second District Congressman, Bruce Poliquin, released the following statement in regards to the announcement:

"I will do anything and everything possible to gain and secure jobs.

"My track record proves it.

"Earlier this year, I stood up for Maine families and employees by voting against the President's Trade Promotion Authority in order to help protect companies such as New Balance, which has 900 highly skilled Maine workers make those shoes right here in Norridgewock, Norway, and Skowhegan -- rather than shipping those jobs overseas.

"It's disappointing that a big Wall Street corporation, like GE, would use politically charged language as a cover to shipping jobs overseas. Earlier today, GE announced job shifts overseas from several of their locations in the United States.

"Having visited their Bangor plant, in person, I can say with all confidence that the men and women there work hard for a living.

"We, as the people of Maine and citizens of the United States, cannot complain about corporate welfare at the same time we turn our backs on government corruption. This is especially true when 70% of the loans -- which are subsidized by the taxpayers -- extended help a select 10 of the largest corporations.

"During the past five years, under Export-Import Bank Chairman Fred Hochberg, there have been 48 convictions for fraud by Bank employees and others associated with favoring some foreign corporations over others to receive the Bank's low-interest loans. 66 years of jail time and $224 million in fines have been dished out by the courts. There are 37 ongoing investigations for fraud and corruption at the Bank.

"Furthermore, both Democratic and Republican Members of the House Financial Services Committee, on which I sit, have repeatedly demanded the Export-Import Bank clean up its act. This behavior by a U.S. government entity is outrageous, embarrassing, and damaging to our Nation. It must be fixed.

"As a responsibility to the American taxpayer, the Bank's leadership should eliminate all fraud and corruption -- not accepting status quo.

"When we reauthorize entities such as this we must ensure that we put the needs of the American People first; not corporate welfare. We can promote and protect jobs while eliminating fraud.

"With these changes and more accountability to the taxpayers, the Congress of the United States can re-examine reauthorizing the Bank. Once corruption has been rooted out of the Bank, as Maine's Second District Congressman, I am open to considering a reauthorization of the Bank."

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