[Congressional Record Volume 161, Number 121 (Wednesday, July 29, 2015)]
[Extensions of Remarks]
[Pages E1191-E1192]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




  CONGRESSWOMAN SEWELL URGES IMMEDIATE REAUTHORIZATION OF THE EXPORT-
                              IMPORT BANK

                                 ______
                                 

                          HON. TERRI A. SEWELL

                               of alabama

                    in the house of representatives

                        Wednesday, July 29, 2015

  Ms. SEWELL of Alabama. Mr. Speaker, today I rise to urge the 
immediate reauthorization of the Export-Import Bank. The Ex-Im Bank has 
become a crucial driver of our economy by offering loans, capital 
insurance, and other financial services to businesses who wish to 
invest in American products and grow their businesses. It fills the gap 
between domestic capital and domestic investment, ensuring that each 
and every opportunity to expand our economy has the financial backing 
to do so. Furthermore, the Ex-Im Bank is an exceptional government 
institution insofar that it both improves our economy and makes money.
  For these reasons, Ex-Im Bank reauthorization has been relatively 
uncontroversial in the past. During the 112th Congress, my first term 
in office, we reauthorized the Ex-Im Bank with a vote that crossed 
party lines. However, I have witnessed the agreement and goodwill 
surrounding this issue deteriorate during my tenure. On July 1st, 2015, 
this burgeoning partisanship brought the Export-Import Bank to a 
screeching halt. Members of this congressional body refused to renew 
the charter for the Ex-Im Bank, allowing it to shut down entirely.

[[Page E1192]]

  Since the first day of this month, our obstinacy has cost our nation 
over fifty million dollars. Every day that we allow this shut down to 
continue, we are shortchanging our taxpayers another two million 
dollars. This inaction is irresponsible, short-sighted, and detrimental 
to our economy. The American people want us to create jobs and help 
small businesses grow, not play political games.
  I urge my colleagues to reauthorize the Export-Import Bank 
immediately.

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