[Congressional Record (Bound Edition), Volume 160 (2014), Part 10]
[House]
[Pages 13693-13698]
[From the U.S. Government Publishing Office, www.gpo.gov]




                   EXPORT-IMPORT BANK REAUTHORIZATION

  The SPEAKER pro tempore. Under the Speaker's announced policy of 
January 3, 2013, the Chair recognizes the gentlewoman from California 
(Ms. Waters) for 30 minutes.
  Ms. WATERS. Mr. Speaker, today we have Democrats on the Financial 
Services Committee here where we have gathered on the House floor to 
talk about the Export-Import Bank, which supports hundreds of thousands 
of jobs and levels the playing field so that American businesses, large 
and small, can compete successfully in the global markets.
  Tomorrow, Speaker Boehner and the Republican leadership will leave 
town for a 5-week congressional recess, and legislation to renew the 
Export-Import Bank hasn't even seen a vote in our committee. When we 
return in September, there will be just 10 legislative days to renew 
the bank before its charter lapses on September 30.
  This ideological push to abolish the Ex-Im Bank is an irrational 
crusade to destroy an agency that supports hundreds of thousands of 
jobs and propels economic recovery without costing taxpayers a dime. 
The result could be the end of an institution that, over the past 5 
years, has supported 1.2 million private sector American jobs, and over 
200,000 jobs last year alone.
  Additionally, the Ex-Im Bank reduced our deficit by returning over $1 
billion to taxpayers last year alone through interest and fees. Still, 
critics of the bank say it is a risk to taxpayers, that it picks 
winners and losers, and that it interferes in the free market and, 
therefore, creates a less efficient economy. For all of those reasons, 
it should be abolished, they say.
  But first, let me say, this notion that there is such a thing as pure 
free enterprise, that if left to its own devices would flourish with 
total efficiency and self-discipline and allocate resources and spread 
risk in such a way that accrues to the benefit of everyone in society, 
this notion of just pure free enterprise simply doesn't exist.
  In fact, I thought one of the lessons we learned from the recent 
financial crisis is that markets must be embedded in systems of 
governance. The idea that markets are self-correcting, many of us 
thought, had received a mortal blow.
  Regardless of the outcome, Republicans have already created 
uncertainty for thousands of American companies trying to compete 
against businesses in China, Korea, and across Europe, all of which 
have their own version of the Ex-Im Bank.
  Mr. Speaker, I would like to enter into the Record a letter from Mr. 
Steve Wilburn, who is the CEO of the green energy company FirmGreen, 
who lost $57 million in contracts because of uncertainty surrounding 
the future of the Ex-Im Bank.
  At this time, and before us sharing this information with you, I 
would like to yield to the gentlewoman from Ohio (Mrs. Beatty).
  Mrs. BEATTY. Mr. Speaker, thank you to Ranking Member Congresswoman 
Maxine Waters.
  Mr. Speaker, I rise today in strong support of the Export-Import Bank 
and current legislation, H.R. 4950, to reauthorize the bank introduced 
by my freshman colleague and fellow Financial Services Committee 
member, Congressman Heck from Washington.
  The Export-Import Bank has been helping United States businesses of 
all sizes sell their products around the world for over 80 years. But 
despite the bank's proven track record of creating jobs, helping 
American businesses compete globally, and reducing the Federal deficit, 
a faction of House Republicans want to close the door of this important 
Federal agency forever.
  Mr. Speaker, shutting down the Export-Import Bank makes no sense to 
me, and it makes no sense to my constituents. In my congressional 
district, Ohio's Third, 10 companies, including six small businesses, 
have grown because of the Export-Import Bank. These businesses have 
been able to expand sales internationally and create jobs locally 
because of the Export-Import Bank.
  Earlier this month I received a letter from the CEO of Yenkin-
Majestic Paint, a manufacturer in my district. In his letter, he 
writes: ``Normally we would not write in context of Washington 
crosscurrents about the bank. However, it would be very unfortunate if 
the Congress cannot reach a responsible bipartisan reauthorization of 
this work to encourage commerce for American-made products abroad and 
to help expand U.S. employment from

[[Page 13694]]

sales beyond what is available on the home front.''
  Mr. Speaker, this is just one of many letters I have received from 
affected constituents.
  I have also heard from a young man who works at International Risk 
Consultants, a Columbus-based company that provides guidance to small 
businesses to export internationally. He writes: ``The Ex-Im Bank 
offers trade finance solutions that work for small businesses that 
cannot find alternatives in the private market.''
  He closes his letter in this way, I think most telling: ``Perhaps the 
most devastating effect of not reauthorizing the Ex-Im Bank will be 
visited upon the many firms that never began exporting but would, if 
they were introduced to Ex-Im Bank solutions.''
  Mr. Speaker, Congress should not allow an extreme faction of the 
Republican Conference to execute an ill-conceived and destructive plan 
to close Export-Import Bank. My constituents deserve better. Ohioans 
deserve better, and the American people deserve better.
  I urge the House Republican leadership to bring H.R. 4950, a bill 
with over 200 cosponsors, to the floor so we can keep the Export-Import 
Bank operating and, more importantly, keep Americans working.


                             General Leave

  Ms. WATERS. Mr. Speaker, I ask unanimous consent that all Members 
have 5 legislative days to revise and extend their remarks and insert 
extraneous material in the Record on the topic of my Special Order.
  The SPEAKER pro tempore. Is there objection to the request of the 
gentlewoman from California?
  There was no objection.
  Ms. WATERS. Mr. Speaker and Members, I will read into the Record a 
letter from Steve Wilburn, CEO of the green energy company FirmGreen, 
who lost a $57 million contract because of uncertainty surrounding the 
future of the Ex-Im Bank. I will read you excerpts from his letter.
  Mr. Wilburn attended the Ex-Im Bank panel I organized in April, and 
last month we invited him back to be one of our Democratic witnesses at 
a House Financial Services Committee hearing on the Ex-Im Bank. He is 
among the best witnesses we have ever had at a hearing.
  In his letter, Mr. Wilburn explains that FirmGreen's export potential 
has been directly affected by the uncertainty of reauthorization of Ex-
Im Bank U.S. and the aggressive financial terms offered by the Korean 
Ex-Im Bank.
  Attached to his letter is another letter from a company in the 
Philippines, Green Energy Solutions, informing him that his business 
lost a $57 million contract. The letter begins: ``Dear Mr. Wilburn, in 
view of the uncertainty of the reauthorization of the Ex-Im Bank and 
project finance structure you proposed have become problematic. We have 
made the decision in May, this year not to proceed with your project 
offering.''

                              {time}  2045

  Mr. Wilburn goes on to say: ``In summation, as a combat-decorated 
veteran, small business owner, job creator, exporter, and concerned 
citizen, I believe we should not unilaterally disarm and abandon the 
very governmental agency that allows U.S. manufacturers and other U.S. 
exporters to fairly compete on the world's trading stage.''
  Mr. Speaker and Members, the main criticism of the bank that I would 
like to discuss right now is the assertion that the bank is the 
embodiment of corporate welfare, benefiting a handful of large 
companies, which they claim represents crony capitalism.
  Last April, I held a panel on the Ex-Im Bank which included a number 
of small business owners from across the country. They came here to 
Washington to discuss their work with the bank and how the bank helped 
their companies compete in the global marketplace. Every one of those 
panel members were extraordinarily decent people, hardworking business 
owners who create jobs and pay taxes and have families and a civic 
sense of duty. And this is why I am so offended by this label of 
``crony capitalists'' that critics like to attach to users of the bank.
  Those of us who know what it is like to live behind a label 
understand how they work. Once you are able to put a label on something 
or to someone and it sticks, then you could be done with them. And if 
enough people can be convinced that customers of the Ex-Im Bank are 
crony capitalists, well, there is nothing left to do but get rid of 
them.
  It is so important to note that while a good amount of the bank's 
support goes to large companies, the vast majority of Ex-Im 
transactions--nearly 90 percent--help small businesses. In fact, if the 
Ex-Im Bank were abolished today, it would affect small- and medium-
sized businesses just as much, or more, as large exporters--perhaps 
more, given the distinct challenges and risks small businesses face 
when looking to export.
  Moreover, large U.S. exporters that benefit from high dollar values 
of Ex-Im financing also have large domestic supply chains which 
consists largely of small- and medium-sized businesses that benefit 
indirectly but in very important ways from Ex-Im support.
  At a later time, I will be entering into the Record excerpts from 
Brek Manufacturing and Hansen Engineering.
  This letter is from Mr. Greg Lay, vice president of Hansen 
Engineering. I will read this letter first from Hansen Engineering:

       Hansen Engineering company is one of many small businesses 
     in the South Bay area of Los Angeles, California, that is 
     dependent on Boeing contracts to support the business. Ninety 
     percent of our contracts support Boeing aircraft, either 
     directly or indirectly, through our prime aerospace companies 
     throughout the world. My company staffs approximately 60 
     employees who live in the South Bay and surrounding areas and 
     depend upon the support of Boeing for the well-being of their 
     families.
       Without the reauthorization of Ex-Im Bank, it would be 
     impossible for us to have a big impact on the health of our 
     businesses and its employees and their families.

  Next we have a letter from Brek Manufacturing:

       Brek Manufacturing company is a small business in 
     California with 170 employees who have a critical interest in 
     foreign sales of Boeing commercial aircraft. The Export-
     Import Bank plays an important role as an intermediary in the 
     sale of these aircraft.
       This letter is to express our support for the Ex-Im Bank, 
     as it is key to securing additional sales of Boeing 
     commercial aircraft.

  He goes on to say:

       Our representatives who support the military should also be 
     concerned with the Ex-Im Bank because of the role it plays in 
     supporting jobs and companies like ours, both large and small 
     across the country.

  He further states:

       We supply critical aircraft structural components which are 
     key to successful, safe air transport and air defense. There 
     are many others like us who represent thousands of high-
     skilled and well-paying positions with good benefits.
       Please express our support for the Ex-Im Bank to your 
     colleagues. We are counting on them to do the right thing and 
     support American manufacturing jobs.

  At this time, I would like to yield to the gentleman from Washington 
(Mr. Heck) who is a leader with the bill that would reauthorize the Ex-
Im Bank, if we could get the support from the opposite side of the 
aisle that we need.
  Mr. HECK of Washington. I thank the ranking member of the committee 
very much.
  Mr. Speaker, I am going to offer four elegant, simple, 
straightforward reasons why it is so critically important that the U.S. 
Congress reauthorize the Export-Import Bank prior to its expiration on 
October 1, and they are simply as follows: the Export-Import Bank 
creates jobs; it helps small businesses; it promotes fiscal 
responsibility; and it advances economic growth.
  With respect to jobs, it has already been cited that in the last 5 
years alone, the Export-Import Bank is responsible for the creation of 
over a million jobs, 205,000 jobs in just the last year.
  But here is what has not been said: export-related jobs in America 
pay 13 to 18 percent more than non-export jobs. So it doesn't just 
create jobs; it creates good jobs. And it helps small businesses. 
Nearly 90 percent of all transactions of the Export-Import Bank are 
with small businesses. And to put a fine point on that, last year, it

[[Page 13695]]

was 3,413 small businesses, businesses like Pexco in Fife, Washington, 
which makes traffic signs to promote safety during construction. Pexco 
recently sold $125,000--a small order by any measure--to the 
Netherlands, I think it was. Only one entity would guarantee payment 
because no one else could collect across international borders. And 
that entity, of course, was the Export-Import Bank.
  Stac, another veteran-owned business in Sumner, Washington, with 
eight employees, they do exporting. They are going to hire three new 
employees on the basis of their international sales. But do you know 
what is incredibly frustrating for somebody who comes from the private 
sector? It is, frankly, the woeful deficiency in understanding, because 
the small business support that the Export-Import Bank provides does 
not stop with direct loans and loan guarantees to small businesses 
because big businesses buy goods and services from small businesses as 
well.
  The greatest airplane maker in the world, Boeing airplanes, uses 
15,000 businesses in their supply chain, and 6,600 of them are small 
businesses.
  I was recently on an Alaska flight from Sea-Tac to National Airport 
in Washington, D.C., and a friend of mine named Eric Hahn, who works at 
General Plastics in south Takoma, was sitting a couple seats behind me. 
As everybody was gathering on the plane and shoving their luggage up 
above and getting seated, Eric jumped up, and he said, ``Denny, do you 
see this? Do you see this?'' And he was pointing at the plastic between 
the two overhead bins. He said, ``We made that. We made that.'' General 
Plastics has 185 employees, another small business.
  The Export-Import Bank promotes fiscal responsibility. It has been 
more than a generation since there was any red penny supporting or 
subsidizing the Export-Import Bank, in the wake of reforms adopted 
during the Reagan years. Indeed, last October, more than $1 billion 
transferred to the U.S. Treasury. If we deauthorize the Export-Import 
Bank, our deficit is going up. Who wants that to happen? And finally, 
the Export-Import Bank promotes economic growth.
  Let me give you a series of facts. We cannot change these facts by 
wishing them away. Fact number one: 95 percent of the consumers in the 
world live outside our borders--95 percent-plus, actually. Another 
fact: since 1980, global trade has increased something like fivefold--
fivefold. And let me give you another fact: if we in America want to 
keep our middle class, we had better learn how to sell to the growing 
middle class throughout the world. And the Export-Import Bank is an 
outstanding tool to do that.
  You know, America's economy is projected to grow by only about 2.4 
percent a year over the next 10 years. And do you know what the shame 
of that is? The shame of that is, it is not fast enough to absorb even 
the kids coming out of high schools and postsecondary education and 
colleges. We simply have to grow this economy faster. And there is no 
better way than to participate in the exploding global economy.
  Every developed nation on the face of the planet has an export credit 
authority. And, in fact, about 60 in all, theirs are larger than ours 
either in absolute dollars or in terms of a percentage of their gross 
domestic product. Why? Why would we unilaterally disarm? Why would we 
unilaterally disarm?
  Finally, let me say this. Right now, tonight, as we sit, as we speak, 
the people of China are pouring billions of dollars into the 
development of a commercial aircraft. They call it the C-919. They say 
it will be available for sale within 2 years. Frankly, I think it is 
going to be longer than that. It will be 3 or 4 or 5 years. But 
whenever it is, they are going to create even more fierce competition 
for an industry that is a bulwark of America's manufacturing base, a 
bulwark. And what about China's export credit authority? It is six 
times larger in absolute dollars than America's. And as a percentage of 
GDP, it is 35 times larger.
  So I ask the Members of the House, let us not wake up 63 days from 
now with no export credit authority. This is the 16th time, by my 
count, we have reauthorized the bank. Almost every time by virtually 
unanimous support. And there are more than 300 votes on this floor to 
pass it, if they will bring it to a vote.
  In the name of jobs, in the name of small businesses, in the name of 
fiscal responsibility, and in the name of economic growth, let us 
reauthorize the Export-Import Bank.
  Ms. WATERS. Mr. Speaker, I yield to the gentleman from Texas (Mr. Al 
Green), and I thank him for the leadership and the support that he has 
shown for the Export-Import Bank.
  Mr. AL GREEN of Texas. I thank you, Madam Ranking Member of the full 
committee. I am exceedingly proud to be a part of this effort. And I 
want to you know that when we succeed, it will be due in no small part 
to the energy that you have provided to help us get this legislation 
through.
  I would also like to thank the gentleman from Washington (Mr. Heck) 
for H.R. 4950, an outstanding piece of legislation. It extends the 
Export-Import Bank for 7 years, and it will increase the cap to $175 
billion. I think it is an outstanding piece of legislation. And, of 
course, I am one of the persons who is supporting it.
  Mr. Speaker, let me start by indicating that the Export-Import Bank 
is not one of the too big to fail institutions. It wasn't involved in 
the credit default swaps. It wasn't involved with derivatives. It 
wasn't involved with no-doc loans. It wasn't involved in all of these 
exotic products that nearly caused the collapse of the economy.
  If the truth be told, the Export-Import Bank was one of the reasons 
why the economy was able to survive. It has been thriving. It has done 
well. It pays for itself by virtue of the loans that it makes, by 
virtue of the fees that it collects, by virtue of the products that it 
insures. The Export-Import Bank makes good sense.
  I find no businesspeople in my community who are in opposition to the 
Export-Import Bank. It is not too big to fail, and it should not be too 
small to save. We ought to do what we have done 16 times in the 
previous 80 years, and that is, reauthorize the Export-Import Bank in a 
clean bill, and do it with very little fanfare.
  Unfortunately, that is not the circumstance that we confront 
presently. Unfortunately, there are persons who believe that the 
Export-Import Bank no longer serves a useful purpose.
  Well, it serves a useful purpose for the people in my district. And 
the facts speak for themselves. In my district, between 2007 and 2013, 
in the Ninth Congressional District, we had a total of 88 export-
importers.

                              {time}  2100

  We had 39 small businesses, 13 minority-owned businesses, and four 
women-owned businesses, and we are proud of these businesses that are 
owned by women because we still contend that when women succeed, 
America succeeds. The Export-Import Bank is on the agenda to help women 
succeed.
  I would add that there are businesses that have indicated that they 
are supportive. I have a letter from a company in Houston, the style of 
it is the South Coast Products Company, and I just shall read an 
excerpt from their letter. I have many letters to read, but I shall 
pick a few and just read excerpts.
  This one reads--and it is addressed to the Honorable Maxine Waters:

       We are a small manufacturer in Texas that exports thread 
     and valve lubricants primarily to the oil and gas industry. 
     We have used Export-Import Banks' export credit insurance for 
     13 years. During that time, our export business has grown by 
     a factor of 15 because of the security offered by our policy 
     with Export-Import.

  I shall go to the last paragraph which reads, ``Please emphasize to 
your colleagues that Ex-Im Bank is not corporate welfare''--this is a 
business, a business that has written this to us--``or a charity of any 
kind. It facilitates U.S. exports, especially for small businesses like 
us, while supporting itself. Please do not let them put our livelihoods 
on the chopping block for their own political gain.''
  This is from South Coast Products, a Texas business.
  I would also like to read a letter from the Greater Houston 
Partnership. The Greater Houston Partnership is the

[[Page 13696]]

preeminent chamber of commerce in my area. It is called the partnership 
because we do things differently in Texas, and the partnership has also 
joined in this letter by a good many other entities that I shall name 
after having read an excerpt from this letter.
  It reads:

       The Houston region continues to enjoy strong economic 
     growth driven in large part by the Export-Import Bank. In 
     order to keep momentum, it is crucial that Congress supports 
     tools encouraging businesses to expand into new markets and 
     create new jobs. The Export-Import Bank of the United States 
     is one of these tools, and we ask that you support this 
     legislation.

  The letter is addressed to me.
  It goes on to add:

       Small- and medium-sized businesses in our region also 
     benefit directly from Export-Import. Small businesses account 
     for nearly 85 percent of Ex-Im Bank's transactions; further, 
     these transaction figures do not include the tens of 
     thousands of small- and medium-sized businesses that supply 
     goods and services to large exporters using the bank.

  This is signed by the Bay Area Houston Economic Partnership, the 
Baytown Chamber of Commerce, the Brenham/Washington County Chamber of 
Commerce, the Clear Lake Chamber of Commerce, the Greater Beaumont 
Chamber of Commerce, the Greater Tomball Area Chamber of Commerce, the 
Houston East End Chamber of Commerce, the Houston Northwest Chamber of 
Commerce, Lake Houston Area Chamber of Commerce, League City Chamber of 
Commerce, Pearland Chamber of Commerce, West Chambers County Chamber of 
Commerce, and the Wharton Chamber of Commerce.
  I close simply with these words: businesses are supportive of the Ex-
Im Bank. People understand the necessity for it. We but only need to 
have a vote on it to get it continued.
  Ms. WATERS. Mr. Speaker, Members, you have heard about businesses in 
any number of districts that receive the support from the Ex-Im Bank.
  I would like to read to you excerpts from a letter from Chairman 
Hensarling's district. This is from Fritz-Pak, and this letter is about 
how the Ex-Im Bank helped save his business.
  His name is Gabriel Ojeda, president of Fritz-Pak Corporation, and 
this is the excerpt I would like to read:

       During the past 5 years, we have grown our international 
     sales from 15 percent to over 35 percent of our business. We 
     now have major trading partners in over 30 different 
     countries, including Brazil, Russia, India, and Taiwan. Most 
     recently, we exhibited our products at Bauma International 
     Trade Fair in Munich, Germany.
       So what is Fritz-Pak Corporation today? We are an American 
     manufacturer of the best concrete admixtures in the world, 
     and we sell them as far as Yellowknife, Canada, and as far 
     south as Wellington, New Zealand. We may be small, but we 
     think big. In an age where everything seems to be made 
     someplace else, we are thriving here in the USA and in no 
     small part due to the services provided by Ex-Im Bank.

  Lastly, I would like to read excerpts from Mr. Mike Boyle of BES&T in 
New Hampshire. The CEO and president of BES&T is Mr. Michael Boyle, and 
he sent us a very good letter last week.
  Mr. Speaker, at a later time, we will enter into the Record these 
letters that we are not able to read this evening. I thank you, and I 
yield back the balance of my time.
  Mr. Speaker, I submit the following letters in support of the Export-
Import Bank:
  1. Letter from Steve Wilburn, President and CEO, FirmGreen, July 21, 
2014
  2. Letter from Greenery Solutions, Inc, June 23, 2014
  3. Letter from Brek Manufacturing to Ranking Member Maxine Waters
  4. Letter from Hansen Engineering Company, July 23, 2014
  5. Statement from Fritz-Pak, June 17, 2014
  6. Letter from Boyle Energy Services & Technology, Inc, July 22, 2014

                                                    July 21, 2014.
     Hon. Maxine Waters,
     Ranking Member, Committee on Financial Services, House of 
         Representatives,
     Washington, DC.
       Dear Ranking Member Waters: I would like to take this 
     opportunity to thank the Ranking Member, Chairman Hensarling, 
     all the Committee Members and staff, for the opportunity of 
     testifying before the House Committee on Financial Services 
     on June 25, 2014.
       It was an extreme honor to appear before the Committee. 
     Only in America can a disabled Veteran small business owner 
     like me, hope to share the national stage with a multi-
     billion international conglomerate, and have my voice heard 
     on such a critical issue as the Reauthorization of the Export 
     Import Bank of the United States (Ex-Im Bank US).
       I remain deeply concerned over the continuing negative 
     comments and name calling emanating from many members of 
     Congress concerning the Reauthorization of the Export Import 
     Bank of the United States. I believe such public comments are 
     harming US Exporters and helping to embolden our overseas 
     competitors. As stated in my testimony, ``Words have 
     consequences.'' FirmGreen lost an order worth $57 million due 
     to the uncertainty created by a vocal minority of 
     Congressional critics opposed to Ex-Bank Reauthorization.
       I feel that the current economic recovery occurring in the 
     US is fragile. We are experiencing mounting trade deficits. I 
     firmly believe that the decades-long decline and 
     deterioration of the once formidable United States industrial 
     and manufacturing base is having a negative effect on our 
     economy and our national security.
       In 1970, more than a quarter of U.S. employees worked in 
     manufacturing. Today, the number is only one in 10. Over 76 
     percent of current jobs in the US are in the Service Sector.
       Ensuring the viability of our manufacturing and industrial 
     sectors is critical to providing jobs that pay good wages, is 
     important to the recovery of our struggling economy and is 
     vital to the defense of our Republic.
       In my opinion, we cannot continue to be a global power 
     capable of responding to serious threats to US interests 
     worldwide, without the support of a strong industrial 
     manufacturing base.
       According to declassified CIA reports, China has overtaken 
     Japan and is now second to the United States in terms of 
     Gross Domestic Product (GDP). In recent years, led by a 
     strong expansion of its Industrial and Manufacturing Base. 
     China has more than doubled the USA's rate of growth in GDP.
       According to the CIA's World Fact Book, as of 2013, China 
     and the European Union are ahead of the United States in 
     Exports. More troubling than the shrinking dollar amount of 
     US exports, is a growing trade deficit in ``manufactured'' 
     goods.
       In order for US Exporters to recover from the recent 
     economic downturn and create jobs, they must have access to 
     sufficient working capital and credit support. Since the near 
     total collapse of the Global Banking system in 2008, Export 
     Credit Agencies (ECA's) and Development Finance Institutions 
     (DFI's) have played an increasingly important role in 
     financing exports.
       While US commercial banks are still recovering, sources of 
     capital for US exporters have become constrained. On the 
     world stage, nations and private clients seeking to import 
     manufactured goods and technology have increasingly looked to 
     the competitively priced financial products provided by ECA's 
     and DFI's. Chinese, Japanese and Korean competitors to 
     FirmGreen, and other US Exporters have easy access to very 
     attractive finance terms being offered by the Chinese, 
     Japanese and Korean ECA's.
       FirmGreen's export potential has been directly affected by 
     the uncertainty of reauthorization of Ex-Im Bank US and the 
     aggressive finance terms offered by the Korean ExIm Bank 
     (KEXIM). (See Attached Letter from Greenergy, Solutions, 
     Inc.).
       In many of the international markets where FirmGreen 
     competes, ECAs are providing the only project finance 
     available. In the energy infrastructure marketplace, fully 
     nine out of 10 projects that get done on a true project 
     finance basis have ECA support.
       ``JBIC remains a global leader for energy and 
     infrastructure project finance; KEXIM is rising in 
     prominence, particularly in energy; Chinese institutions are 
     also very active and increasingly willing to work with other 
     International finance providers as opposed to going it alone 
     as they have done in the past.'' (Source Baker and McKenzie 
     2013 Report on the Rise of ECA's and DFI's).
       The Export-Import Bank of the United States allows US 
     Manufacturers, such as FirmGreen, to compete on an equal 
     basis with the project finance terms being offered by foreign 
     ECA's and DFI's. Ex-Im Bank US provides valuable comfort to 
     US commercial banks, allowing them to provide the longer 
     tenor loans that are essential for many US Exporters, and 
     vital for FirmGreen's creditworthy energy and infrastructure 
     projects.
       In summation, as a combat decorated Veteran, small business 
     owner, job creator, exporter and concerned citizen, I believe 
     that we should not unilaterally disarm and abandon the very 
     governmental agency that allows US Manufactures and other US 
     Exporters to fairly compete on the world's trading stage.
       I strongly urge members of Congress to support the 
     Reauthorization of Export-Import Bank of the United States.
           Respectfully Submitted,
                                                    Steve Wilburn,
                                                   President, CEO.
                                  ____
                                  
                                                    June 23, 2014.
     Mr. Steve Wilburn,
     Chief Executive Officer, FirmGreen, Inc., Newport Beach, CA.
       Dear Mr. Wilburn: In view of the uncertainty of the 
     reauthorization of the Exim

[[Page 13697]]

     Bank, and project finance structure you proposed had become 
     problematic, we have made the decision in May this year not 
     to proceed with your project offering.
       Our previous partner-developer has provided us assurance of 
     the certainty of obtaining satisfactory finance from the 
     Export Import Bank of Korea for our Cavite Biomass-Waste-to-
     Energy Project.
       With previous discussion with you, we had the impression 
     that your company, FirmGreen can provide the best technology 
     for our project, but without terms similar to what being 
     offered by the Exim Bank of Korea, it will be impossible for 
     our company to conclude a transaction.
       If you can produce a Letter of Interest (LOI) from the Exim 
     Bank of the United States by June 30, 2014, our company will 
     reconsider using FirmGreen technology for the project and 
     reconsider retaining FirmGreen as the project Technical 
     Operator for this important project.
       The roadmap to obtaining the long term project finance 
     commitment on favorable terms is critical in our decision 
     making process.
       We hope that this all be worked out to the satisfaction of 
     both our companies.
           Very truly yours,
                                                  Ruth P. Briones,
                           President/CEO, Greenergy Solutions Inc.
                                  ____
                                  
                                                  August 26, 2014.
     Hon. Maxine Waters.
       Dear Ranking Member Waters: Brek Manufacturing Company is a 
     small business in California with 170 employees, who have a 
     critical interest in foreign sale of Boeing Commercial 
     Aircraft. The Export-Import Bank plays an important role as 
     an intermediary in the sale of these aircraft. This letter is 
     to express our support for the Ex-Im bank, as it is key to 
     securing additional sales of Boeing Commercial Aircraft.
       Our company produces approximately 40 percent of our output 
     to Boeing Commercial Aircraft customers, with the other 60 
     percent representing military customers.
       With the decrease of the military business available, it is 
     critical that the commercial sales be kept as high as 
     possible to preserve the industrial infrastructure that this 
     company and that of other companies in our industry 
     represent.
       Our representatives who support the military must also be 
     concerned with the Ex-Im Bank because of the role it plays in 
     supporting jobs in companies like this one, large and small, 
     across the country.
       Although our company is not a household name like Boeing, 
     we supply critical aircraft structural components which are 
     key to successful, safe air transport and air defense. There 
     are many others like us who represent thousands of high 
     skilled and well paid positions with good benefits.
       Please express our support for the Ex-Im Bank to your 
     colleagues. We are counting on them to do the right thing and 
     support American manufacturing jobs.
           Regards,
                                                William A. Conrad,
                                            Director of Contracts.
                                  ____
                                  
                                                    July 23, 2014.
     Hon. Maxine Waters,
     Ranking Member, House Financial Services Committee.
       Dear Congresswoman Waters, Hansen Engineering Company is 
     one of many small businesses in the South Bay area of Los 
     Angeles California that is dependent on Boeing contracts to 
     support our business.
       Hansen Engineering is a manufacturer of machined aerospace 
     parts and assemblies with 90% of our contracts supporting 
     Boeing aircraft either directly or indirectly through other 
     prime aerospace companies throughout the world. My company 
     staffs approximately 60 employees who live in the South Bay 
     and surrounding areas and depend upon the support of Boeing 
     for the wellbeing of their families. Without the 
     reauthorization of the Ex-Im Bank it would have a big impact 
     on the health of our business, its employees and their 
     families.
       This is a critical time for manufacturing and small 
     businesses in America. Without the Export-Import Bank, many 
     of Boeing's customers could decide to purchase commercial 
     airplanes produced outside of the United States. Hansen 
     Engineering Company is in strong support of legislation to 
     approve the reauthorization of the Export-Import Bank of the 
     United States.
       Thank you for your support of the Export-Import Banking 
     reauthorization initiative.
           Sincerely,

                                                     Greg Lay,

                                                   Vice President,
     Hansen Engineering Company.
                                  ____


                           [June 17th, 2014]

                 How Ex-Im Bank Helped Save My Business

         (By Gabriel Ojeda, President of Fritz-Pak Corporation)

       In 1998, I began the American Dream. I had been working for 
     another company for over 14 years when I decided it was time 
     that I work for myself. I was managing the concrete 
     admixtures division there, and when it came up for sale, I 
     borrowed money from everywhere I could and purchased it. I 
     incorporated my new business, Fritz-Pak Corporation, in the 
     state of Texas, where we are proud to manufacture all of our 
     products to this day.
       Concrete admixtures are chemicals used in construction to 
     make handling, placing, and creating high performance 
     concrete easily and efficiently. The most obvious examples 
     are retarders and accelerators. During the summer, concrete 
     will start to set faster due to the heat, so you use a 
     retarder to slow down the setting time. In the winter, 
     concrete will set slower due to the cold, so you use an 
     accelerator to speed it up. Those are just two examples, and 
     in total, we sell about 40 different specialty products.
                                  ____

       Back in 1998, the sales distribution was only 15% 
     international. To be honest, I only maintained the 
     international accounts I inherited from the original sale of 
     the business. We were fortunate that concrete construction in 
     the USA started to take off, so I didn't really have a need 
     to expand internationally. I grew the business from less than 
     $1 million in sales to over $3 million by 2007. However, the 
     recession that began in '07/'08 hit the construction industry 
     hard.
       Data from the US Geological Survey shows that US cement 
     consumption in 2007 was 117 million metric tons (MMT), 
     falling to 99 MMT in 2008 and 72 MMT in 2009. Likewise, our 
     sales fell from over $3 million to under $2 million. Concrete 
     construction in the US was deteriorating rapidly, along with 
     our profits, sales, and our workforce. After a particularly 
     hard round of layoffs in 2009, we were in complete survival 
     mode, and I was beginning to consider selling the company.
       With the American construction market failing, my son came 
     to me with the idea to start promoting our products overseas 
     to compensate for the loss in revenue. Expanding 
     internationally had always appealed to us, but trying to come 
     up with a cost efficient and safe method for selling our 
     products in other countries during the worst recession in our 
     lifetime seemed like a pipe dream. How can we sell $50,000 
     worth of goods to customers half way around the world we've 
     never even met? How can we increase our payment cycle from 30 
     days to 60 days when we are struggling just to make payroll 
     every month?
       However, after speaking with our bankers at Comerica, we 
     were put in touch with Export-Import Bank. With the help of 
     Ex-Im, we were able to insure our international receivables 
     at minimal cost. With an affordable safety net, we were able 
     to sell more volume with increased terms to compensate for 
     international shipping. During the past 5 years, we've grown 
     our international sales from 15 percent to over 35 percent of 
     our business. Partners in over 30 different countries 
     including Brazil, Russia, India, and Taiwan. Most recently, 
     we exhibited our products at the BAUMA International Trade 
     Fair in Munich, Germany. In addition, our products were used 
     in the construction of the Sochi Winter Olympics in Russia.
       So what is Fritz-Pak Corporation today? We're an American 
     manufacturer of the best concrete admixtures in the world, 
     and we sell them as far north as Yellowknife, Canada and as 
     far south as Wellington, New Zealand. We may be small, but we 
     think big. In an age where everything seems to be made some 
     place else, we're thriving here in the USA. And it is in no 
     small part due to the services provided by Ex-Im Bank.
                                  ____

                                           Boyle Energy Services &


                                             Technology, Inc.,

                                    Manchester, NH, July 22, 2014.
     Hon. Maxine Waters,
     House of Representatives, Washington, DC.
       Dear Mrs. Waters, Ma'am, BES&T needs every effort you and 
     your team can expend to help with the Re-Authorization of the 
     Export Import Bank of the United States.
       You see we are at a great moment in time. Our company, 
     through our exporting, has invented a technology and been 
     awarded US Patents for that technology which dramatically 
     reduces the cost of commissioning energy facilities being 
     built anywhere in the world. In fact we have recently been 
     awarded an Innovation in Energy Award by the Coalition for 
     Global Leadership for this technology. We are about to break 
     through from being a small business to a midsize company 
     working globally. Our revenues are going up dramatically by 
     our ability to export our unique services, engineering and 
     field equipment that helps our clients save millions of 
     dollars.
       I have a small line of credit from the Bank of America. I 
     would not be able to support bid bonds and other financial 
     work on the project without EXIM support. At present BOA does 
     not have a means of securing the collateral against our 
     credit while it is in foreign countries, nor does it support 
     financing foreign receivables without EXIM. It is my 
     experience that most US domestic banks behave the same way. 
     While it might be possible to search for a new bank we do not 
     have the resources, time, nor network to re-qualify a bank 
     with what we do. It would be disastrous to us. BOA has taken 
     10 years to understand our business.
       Since undertaking our R&D program in 2003-2008 we have gone 
     from 4 million in revenue in 2003 to nearly 30 million now. 
     We have gone from 10 employees to nearly 50. But ma'am these 
     are not minimum wage jobs. We pay the top salaries in the 
     world for

[[Page 13698]]

     what our people do. We pay 100 percent blue cross blue shield 
     health insurance, 401K, life insurance etc. I have high 
     school graduates who are considered by the energy industry as 
     the best people in the world at what they do making more than 
     $150,000 per year. BES&T is poised to triple in size again. 
     Additionally we gave over $150,000 to charity this year in 
     celebration of our 20th anniversary as a company. We feel it 
     is our civic duty to help those in need as we excel around 
     the world.
       We represent what America does best. We innovate through 
     entrepreneurialism. We take that innovation and we run with 
     it all over the world and here in the US. We hire our friends 
     and neighbors who buy homes and cars and send their kids to 
     college. We promote good will in the countries we work and 
     make friends around the world.
       I grew up on welfare in Massachusetts, needed school 
     lunches to get through the day and chose to go into the Navy 
     as an enlisted Boiler Technician for 6 years. At every turn I 
     have leveraged the support of the United States and the 
     states in which I lived to create a positive American life 
     for me and for others. Our business is a direct result of the 
     training I got during my enlistment. Now we rely on the EXIM 
     bank for help while we push forward once more. I feel an 
     incredible sense of pride and patriotism that the Export 
     Import Bank of the United States stands with me and my 
     employees. It's one of the great tools for small business in 
     the country.
       Several years ago I had the privilege to meet Chairman 
     Hochberg at an outreach meeting hosted by Senator Shaheen of 
     New Hampshire. Since then I have been invited by the Chairman 
     to voice my opinion to him and the board of directors on a 
     wide variety of subjects relating to the banks support of 
     small business. What I can tell you is this, from the top 
     office of the Chairman to the people who work for the bank, 
     EXIM bank is committed to working and improving services for 
     small businesses. I have been witness to countless 
     improvements on behalf of small companies and the Chairman 
     listens to the small business community and so does the 
     board. They are committed to working with us, and it shows.
       Mrs. Waters if there were a better, or cheaper way we would 
     have done it. Small businesses always look for that edge. 
     Right now our work with EXIM is highly valuable to our global 
     growth. We work in 17 countries tonight. American women, men 
     and equipment. We rely on EXIM for credit insurance and for 
     our line of credit with BOA. We have never defaulted nor had 
     a claim. We pay heavy fees and costs for this privilege. EXIM 
     is a partner for us in our success.
       I would ask you to convince the Chairman that this platform 
     will hurt us, badly. I buy millions of dollars of equipment 
     year on year to help with our exporting. We buy from vendors 
     in Texas, and Tennessee, and California. All of these people 
     would be hurt as well.
       This is not a fight we should be undertaking at this time 
     in our recovery. BES&T will continue to add jobs, and pay our 
     taxes on the profits we incur. We will take care of our 
     people and our neighbors. We will honor your trust and 
     support.
       If I may be of any assistance to either you or Chairman 
     Hensarling in this matter please call upon me at once.
       Please re-authorize the EXIM bank its good for America, and 
     BES&T.
           Respectfully,
                                                 Michael P. Boyle,
                                                    President/CEO.

  Ms. SINEMA. Mr. Speaker, I rise today in support of the 
reauthorization of the Export-Import Bank because helping Arizona 
businesses expand their manufacturing capacity and exporting ability 
creates jobs and grows our economy.
  The Export-Import Bank fills gaps in private financing, stepping up 
where the private sector can't or won't.
  Last year, Export-Import Bank Chairman Fred Hochberg visited my 
district to help small and growing businesses increase their global 
exports right from our own backyard. From Fiscal Year 2007 to Fiscal 
Year 2014 the agency supported $176 million in exports from AZ-09 
companies.
  One of those companies, MarTek Inc. of Tempe, Arizona, was reluctant 
to sell their semiconductor equipment to customers in Asia. They were 
concerned that once the equipment left their building, there was no 
guarantee they would get paid.
  Because of the large price associated with the equipment, their 
customers were unwilling to pay for the equipment in advance with the 
same fears that the equipment would not ship or be a quality product.
  The Export-Import Bank offered MarTek a solution. The bank issued an 
insurance policy so MarTek could make sales and have some guarantee 
they would be paid. Thanks to the Export-Import Bank MarTek now exports 
to companies in Asia, Europe and the Americas.
  Another business in my district that benefits from the Export-Import 
Bank is Ulthera, Inc. of Mesa, Arizona, which manufactures medical 
devices. Thanks to the Export-Import Bank Ulthera was able to access 
additional debt financing at a critical point in their business. It's 
now one of the fastest growing companies in Arizona with sales in over 
30 countries outside the U.S.
  As we all know, the Export-Import Bank's current charter is set to 
expire at the end of September. A lapse in authorization would threaten 
the competitiveness of these and many other Arizona businesses. I am a 
co-sponsor of legislation to extend the Export-Import Bank's 
authorization and will continue to work to reauthorize this important 
investment in American jobs.

                          ____________________