Strong, Bipartisan Support for Reauthorization of the Export-Import Bank
Republicans in Congress are joining Democrats and business owners across the country in urging their Republican leaders to schedule a vote to reauthorize the Export-Import Bank before its charter expires on June 30. A majority of Members in the House back a long-term reauthorization of the Bank, which supports U.S. job growth and helps American businesses compete in the global marketplace at no cost to taxpayers. Take a look at what Republicans in the House and Senate have to say about the need to reauthorize the Export-Import Bank before the end of the month:
Rep. Chris Collins (R-NY): “I can’t figure out for the life of me why my party, the Republican Party, that stands for jobs — and in every conference meeting it’s ‘jobs’ and ‘the economy’ — and here I am, in the minority of my own conference, fighting to defend the Export-Import Bank which is the best example of creating jobs in America.” [Roll Call, 6/3/15]
Rep. Stephen Fincher (R-TN): “Reforming and reauthorizing the [Export-Import Bank] will create good-paying jobs for Americans across our great nation.” [Tweet, 6/3/15]
Rep. Billy Long (R-MO): “Why are we here? We have enough problems in this country that we should be dealing with here in Washington, D.C., to come up with this contrived, flavor-of-the-week thing to be against. It’s a dreamed-up problem that has spun out of control.” [Roll Call, 6/3/15]
Rep. Frank Lucas (R-OK): “Whether it is 14 days or 14 weeks or 14 months, this institution will be reauthorized… If the charter lapses, it may take a number of occasions where U.S. companies lose substantial business around the world to help us focus.” [Wall Street Journal, 6/4/15]
Senator Roy Blunt (R-MO): “There are enough votes in the House to pass Ex-Im if it gets voted on in the House and there are enough votes here to pass Ex-Im if it gets voted on in the Senate.” [Bloomberg, 6/3/15]
Rep. Adam Kinzinger (R-IL): “It would be devastating to not reauthorize the Ex-Im bank.” [Tweet from The Hill Events, 6/2/15]
Rep. Joe Wilson (R-SC): “As we continue to debate reauthorization, I hope we can focus on the fact of jobs and the more than 60 competing international export credit agencies that undercut and destroy American jobs daily.” [Politico, 5/20/15]
Senator Lindsey Graham (R-SC): “‘The fact that you would let the [Export-Import] bank expire because of some ideological jihad. … I’m not going to be part of it,’ Graham said. ‘I’m not going to sit on the sidelines and let jobs in my state be lost.’” [Politico, 5/19/15]
Mayors and Governors from conservative cities and states are also rallying behind reauthorization of the Export-Import Bank, which helps strengthen their economies by supporting job creation here at home:
Bipartisan Letter from 28 State Governors: “As governors of states whose economies and workforces depend on exports, we strongly urge you to support legislation that provides for the long-term reauthorization of the U.S. Export Import Bank before its charter expires on June 30, 2015. The Ex-Im Bank is a crucial tool that both small and large businesses use to compete fairly in the world market, increase their exports, stimulate job creation, and contribute to the growth of our states’ economies… The Ex-Im Bank allows our companies and workers to compete on a level playing field against international competitors who receive extensive support from their own export credit agencies… In a tight federal fiscal environment, we are encouraged that the Ex-Im Bank is financially self-sustaining, and operates at no cost to hardworking American taxpayers… Failure to act will place American industries at a significant disadvantage in the global marketplace and harm businesses in our states.” [Letter, 4/14/15]
U.S. Conference of Mayors: “Without support from the Export-Import Bank, businesses in cities nationwide will face little or no financing alternatives, putting U.S. jobs in jeopardy… Small businesses need more certainty and protection to compete in new markets and help create jobs, which explains why the Ex-Im Bank has financed more small businesses in the last five years than in the previous 11 years combined.” [Letter, 2/25/15]
The Export-Import Bank has enjoyed bipartisan support for decades. Republican presidents since 1959 have advocated for the financing assistance it provides to small and medium-sized American businesses:
President George W. Bush: “I have today signed into law S. 1372, the Export-Import Bank Reauthorization Act of 2002. This legislation will ensure the continued effective operation of the Export-Import Bank, which helps advance U.S. trade policy, facilitate the sale of U.S. goods and services abroad, and create jobs here at home.” [6/14/02]
President Ronald Reagan: “Exports create and sustain jobs for millions of American workers and contribute to the growth and strength of the United States economy. The Export-Import Bank contributes in a significant way to our nation's export sales.” [1/30/84]
President Gerald Ford: “In order for the United States to maintain its strong position in foreign markets, it is important that the Congress pass the Export-Import Bank bill and avoid attaching unnecessary encumbrances.” [11/18/74]
President Dwight D. Eisenhower: “[Export-Import Bank's] record of repaid loans and repayable loans, your infinitesimal portion of written-off loans is one that I can do nothing except to say congratulations to your Directors, the President, and to all of you.” [2/12/59]
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