[Congressional Record (Bound Edition), Volume 160 (2014), Part 8]
[House]
[Page 12010]
[From the U.S. Government Publishing Office, www.gpo.gov]




                           EXPORT-IMPORT BANK

  The SPEAKER pro tempore. The Chair recognizes the gentlewoman from 
Wisconsin (Ms. Moore) for 5 minutes.
  Ms. MOORE. Mr. Speaker, I rise today in support of the Export-Import 
Bank, the official export credit agency of the United States of 
America.
  Mr. Speaker, it is so frustrating to see this normally bipartisan 
effort to support the American economy get hijacked. I would bet, Mr. 
Speaker, that this bill could pass on suspension, that two-thirds of 
this House would be willing to reauthorize the Ex-Im Bank, if we were 
to put it to a vote on this floor--but no. Instead, we are forced, once 
again, to yield to a minority of the majority--the Tea Party--which 
demands the decapitation of an economic development and jobs creator 
giant--the United States of America's Export-Import Bank.
  Why is this? Is it because the Bank doesn't work? No. It is an 
example of how government effectively could partner with the private 
sector. The Bank puts U.S. exporters on equal footing when foreign 
competitors have foreign export aid, and it bridges the gaps in the 
private market.
  The reality is that, in the global marketplace, our competitors are 
aggressively using their export banks. Milwaukee, Wisconsin, which is 
my district, is still very much a manufacturing economy--the second in 
the Nation relying on this sector. Every day, workers in Milwaukee 
compete against foreign workers with extensive and aggressive foreign 
export credit agency backing.
  Today, the United States Export-Import Bank supports an estimated 
205,000 export-related jobs in the United States. My fellow Republican 
Wisconsin colleagues--Representative Ryan and Representative 
Sensenbrenner--not long ago urged Bank financing because ``all steps 
should be taken to reinvigorate the economy and bring jobs to the 
United States.'' With higher than average unemployment in Milwaukee, 
the need for the Bank has not changed. Not only does the Bank support 
jobs, but it makes a profit from its operation and pays funds back to 
the U.S. taxpayers--$5 billion since 1990.
  Opponents don't acknowledge that. Instead, they call for gimmick 
accounting, or, as my CPA and tax attorney colleague Representative 
Brad Sherman calls it, ``fairytale value'' accounting. Further, 
opponents claim that the Bank exclusively helps big corporations, yet 
90 percent of the Bank's activities help small business, and that 
number is on the rise. Just ask Apple Steel Rule Die in Milwaukee, a 
company you have never heard of because it is not a big company. In 
fact, new reports from The Brookings Institution show that the failure 
to reauthorize the Bank hurts small and medium-sized businesses the 
most.
  I hear Delta testify against the Ex-Im Bank, and then, 
hypocritically, turn around and use foreign export credit agencies for 
their fleet. By the way, Delta would qualify to use more foreign export 
credit to buy foreign-made Airbus aircraft if Congress does not 
reauthorize the Export-Import Bank. For real, colleagues, do any of us 
believe that Delta will turn down foreign support to buy an Airbus 
plane or a plane from the Chinese? Come on now. I have got a bridge to 
sell you.
  Opponents also say the Bank only supports 2 percent of exports. 
Exactly. The Bank's mission is limited. It does not compete when 
private financing is available. The Export-Import Bank's fees are 
higher than U.S. commercial bank fees. It is not in competition. It 
works in concert with banks here in the United States. This is further 
proof that the Bank is working. However, that 2 percent still supports 
a lot of economic activity in Milwaukee. When I am back in my district, 
unions and businesses--large and small--are hand in hand, saying 
reauthorize the Export-Import Bank.
  We use the rhetoric of jobs an awful lot around here in Congress. Now 
is the time to take a powerful stand for U.S. jobs and U.S. workers. 
Actions speak louder than words. I urge my colleagues to support the 
reauthorization of the Export-Import Bank.

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