[Congressional Record Volume 161, Number 102 (Wednesday, June 24, 2015)]
[House]
[Pages H4597-H4598]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                   EXPORT-IMPORT BANK REAUTHORIZATION

  The SPEAKER pro tempore. The Chair recognizes the gentleman from 
California (Mr. Costa) for 5 minutes.
  Mr. COSTA. Mr. Speaker, I rise today to stress the importance of 
reauthorizing the Export-Import Bank's charter, which has served this 
Nation well. The Export-Import Bank is an important program used to 
support our Nation's entrepreneurs--the best in the world--and keep 
them competitive in today's global economy.
  It is a tool. It is a tool that has enjoyed bipartisan support over 
the years, just like trade agreements are a tool to, in fact, increase 
jobs here in America, good-paying jobs.
  The Bank provides trade financing to solutions to boost U.S. job 
growth, and it has been successful in increasing exports for American 
goods and services--American goods that are made here--at no cost--no 
cost--to the American taxpayer.
  This program is set to expire, sadly, tomorrow--tomorrow. 
Unfortunately, the House Republican leadership is refusing to bring it 
to the floor for a vote, with thousands of American jobs at risk.
  Now, if the Bank charter expires, American workers and American 
businesses that are trying to sell their products and goods overseas 
face a completely unnecessary blow to their ability to compete.
  In total, the Ex-Im Bank--otherwise known, abbreviated--has created 
and sustained over 1.5 million jobs in the private sector since 2007 
alone--1.5 million jobs since 2007. Last year alone, the Bank sustained 
over 164,000 export-related American good-paying jobs.
  If you want to build it in America, you have got to ensure that 
American workers and businesses can compete. The Ex-Im Bank represents 
a vital pillar, therefore, in our ability to be competitive overseas, 
and it has had significant impacts in the San Joaquin Valley that I 
represent.
  Why? Well, many of the businesses that I talk to that use the Ex-Im 
Bank tell me: Jim, we have the ability to compete. We make our products 
better, but when we are sitting at the table with foreign competitors, 
many of these countries want to know, do you have a financing plan in 
place?
  It is because, contingent upon their ability to choose us or choose 
our competitors, many of these countries want to know that this can be 
financially put together in a fashion so that the deal works for 
everybody, and that is what the Bank does.
  In my district alone, the Ex-Im Bank has afforded a number of small 
business exporters--some of which are minority and women owned--to have 
exports in places all over the world, places like India, Mexico, 
Turkey, Hong Kong; and I could go on. These businesses export $77 
million worth of goods, ranging from machinery to manufacturing to crop 
production of the variety and diversity of agricultural exports that we 
do in California.
  As a matter of fact, in California, the Ex-Im Bank has resulted in 
increased exports of over $27 billion. Now, let's put this in 
perspective. Last year, California exported $174 billion in products.
  The Ex-Im Bank was responsible for helping to finance $27 billion of 
that $174 billion. As a matter of fact, $19.4 billion of the $174 
billion that was exported last year from California were agricultural 
products grown in the San Joaquin Valley.
  The Bank helps level the playing field, therefore, for American 
workers and American businesses, allowing them to compete and succeed 
in the global economy that we live in today. That is just the facts.
  In these trying times, the last thing Congress should be doing is 
jeopardizing the economic health of our Nation by refusing to provide 
Americans with the tools--the tools, which is what this Bank is--they 
need to compete effectively in the global marketplace.
  It is important to note that there is a vast bipartisan support for 
renewing the Bank's charter. Let me be clear. Despite attempts to paint 
this as a partisan issue, I do not believe it is. Sadly, though, there 
are some of my colleagues on the other side who have decided to play 
partisan politics with the Bank. That, then, therefore threatens 
American jobs, halting economic

[[Page H4598]]

growth and undermining American businesses' ability of all sizes to 
compete in this global market.
  Now is the time for long-term reauthorization of the Bank so that 
American entrepreneurs can use this tool to create more jobs in our 
country. This can only happen with bipartisan support. I stand and ask 
my colleagues to reauthorize the Ex-Im Bank on behalf of American 
workers and American businesses.

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