[Congressional Record Volume 161, Number 103 (Thursday, June 25, 2015)]
[Extensions of Remarks]
[Page E995]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




        SUPPORTING THE REAUTHORIZATION OF THE EXPORT-IMPORT BANK

                                 ______
                                 

                           HON. RODNEY DAVIS

                              of illinois

                    in the house of representatives

                        Thursday, June 25, 2015

  Mr. RODNEY DAVIS of Illinois. Mr. Speaker, I rise today in support of 
small businesses, American manufacturing and good jobs right here at 
home. I rise to support reauthorization of the Export-Import Bank.
   The simple reality is that 95% of the globe's consumers live outside 
of America's borders. Therefore, our ability to export American 
products around the world has a direct impact on many small, medium and 
large companies' ability to create and sustain jobs. Unfortunately, 
many potential global customers are not able to secure the necessary 
financing to complete a purchase from an American company because of 
the instability of their region or other circumstances.
   In order to connect these American exporters with their buyers 
around the globe, the Ex-Im Bank can provide vital loans to complete 
transactions with American companies that otherwise may not have 
occurred. The economic impacts here at home are significant. Last year, 
the Ex-Im Bank provided financing for $27.5 billion in U.S. exports, 
supporting more than 160,000 jobs. Importantly, nearly 90% of Ex-Im 
transactions involved U.S. small businesses last year, supporting 
nearly $11 billion in exports.
   Some have called for ending the Ex-Im Bank on the grounds that it 
competes with the private market--that's just not the case. The Ex-Im 
Bank simply levels the playing field and fills the gaps that exist in 
the private credit market. Additionally, the Ex-Im Bank brings in a 
surplus of dollars to the U.S. Treasury each year, which isn't 
something we can say about a whole lot of Federal agencies. Last year, 
Ex-Im sent nearly $700 million back to the Treasury as a surplus. And 
over the past two decades, this surplus has been nearly $7 billion.
   Ex-Im supports good paying jobs in Illinois, and not only at great 
companies like Caterpillar and John Deere, but also at small and medium 
sized businesses such as GSI Group in Assumption, IL and Litania Sports 
Group in Champaign, IL. With the June 30th deadline looming, we simply 
cannot afford to put these jobs at risk and we must reauthorize the Ex-
Im bank. I urge my colleagues on both sides of the aisle to join me in 
supporting reauthorization of the job-creating Ex-Im bank.