Hoyer: Passage of Highway Bill, Export-Import Bank Reauthorization Marks a Good, Bipartisan Day for This Congress

WASHINGTON, DC - House Democratic Whip Steny H. Hoyer (MD) spoke on the House Floor today in support of the highway bill, which includes the reauthorization of the Export-Import Bank. Below is a transcript of his remarks and a link to the video:

Click here to watch the video.

“I thank the gentleman for yielding. I want to congratulate both [Transportation and Infrastructure Committee Chairman] Mr. Shuster and [Transportation and Infrastructure Committee Ranking Member] Mr. DeFazio for their work on this bill. I want to thank the Senate as well for their work and their leadership. This is a good week, in many respects. We passed, yesterday, on a bipartisan, overwhelmingly bipartisan vote, a vote to make sure that our education system works better. Today, we will pass in an overwhelmingly bipartisan vote a bill to give more stability and investment in our infrastructure in America. Those are good things.

“I lament the fact that although the previous Speaker talked about a sound, long-term fiscal path for infrastructure investment, my own view is we don't do that. We do better than what is, but not what we ought to do. My own view is that we need to dedicate the user fee, we call [it] the gasoline tax, at a level, which has not been raised since 1993, to a level that will in fact put us on a path to fiscal stability and certainty for our infrastructure package.

“But this is a good package. I want to thank my friend, Bill Shuster, for his leadership. Very frankly, that was critical to getting us to this point. Not only on his side of the aisle but our side of the aisle as well. I want to thank Mr. DeFazio.

“As has been said, this is not a perfect reauthorization. We ought to stop saying that because nothing we pass is perfect. What we hope for is the good, and this is good. It is a compromise. All of these efforts are critical to creating the kind of environment that encourages private sector development and job growth.

“At the same time, I am very pleased that a wide majority of Members, nearly every Democrat and most Republicans, worked together to ensure that this conference report includes a multi-year reauthorization of the Export-Import Bank – supported by a majority of Republicans and all but one Democrat.

“It's unfortunate that… inaction by the Congress allowed the Bank to shut down in July. Now, it didn't actually shut down, but it had no authority to guarantee loans, which cost us jobs. We're changing that policy in this bill. Today, we are coming together to reopen it so it can help American businesses and workers compete on a level playing field in overseas markets.

“During the time the Bank was shut down, businesses began shifting jobs overseas and others refrained from investing here because of the uncertainty over whether it would reopen. Today, that certainty will be restored. To that extent, the Export-Import Bank is in the same position that governors and mayors and county executives all over this country will be put in by this bill, giving them some degree of certainty that there will be a cash flow for infrastructure projects, bridges, roads, and other transportation items.

“I want to thank again Ranking Member [of the Financial Services Committee] Maxine Waters for her work on the Export-Import Bank and [Rep.] Denny Heck and [Rep.] Gwen Moore for their work that led to this provision in the transportation bill. I also want to thank [Reps. Fincher and Lucas] who showed great courage – Steve [Fincher] of Tennessee and Frank Lucas of Oklahoma, Republican colleagues, without whom this Export-Import Bank provision would not be in this bill. I congratulate them for their courage and their leadership. I want to thank, again, Peter DeFazio and Bill Shuster. This is a good day for our country. This is a bipartisan day for this Congress, and I urge my colleagues to support this product