[Congressional Record Volume 161, Number 102 (Wednesday, June 24, 2015)]
[Extensions of Remarks]
[Page E968]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




           HOUSE MAJORITY TURNING ITS BACK ON COMPETITIVENESS

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                        HON. GERALD E. CONNOLLY

                              of virginia

                    in the house of representatives

                        Wednesday, June 24, 2015

  Mr. CONNOLLY. Mr. Speaker, I and many business leaders are having 
trouble fathoming this foolhardy decision by House Republicans to allow 
the Export-Import Bank to expire.
  I thought my Republican colleagues wanted to support small businesses 
and create jobs.
  Well, last year, the Bank helped 121 Virginia businesses, and 
thousands more nationwide, reach new global markets with their 
American-made products and services. Nearly 90% of its loans benefit 
small businesses, and those loans supported 164,000 jobs, most of which 
had higher-than-average wages.
  I also thought my Republican colleagues wanted to help reduce the 
deficit.
  The Bank returned $675 million to the Treasury last year and more 
than $1 billion in each of the previous two years.
  By allowing the Bank to expire, House Republicans are casting aside a 
program that has consistently created jobs, strengthened small 
businesses, and helped reduce the deficit.
  Every other industrialized nation has an export-import bank, and this 
unilateral disarmament cedes American competitiveness.
  Mr. Speaker, there is a bipartisan majority that supports the Ex-Im 
Bank. I urge you to bring up a clean extension and let the House work 
its will.

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