Following the House of Representatives vote on a spending measure that extends government funding through December 11th, Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, expressed disappointment with a provision to extend the Export-Import Bank’s Charter for only nine months, and explained how it is an unfortunate step toward its possible demise.
She released the following statement:
“I have supported this continuing resolution because I believe we cannot allow Republicans to harm our seniors, service members and consumers with another government shutdown, as they did just one year ago. In addition, I believe it is critical to provide the government with the support it needs to keep our nation safe and to help rid African countries of the scourge of the Ebola virus.
However, I am disappointed that this funding measure fails to include a long-term reauthorization of the Export Import Bank and instead contains a short, nine-month extension, which is intended to be a death knell for an institution that has created jobs, supported small businesses and spurred economic growth for more than 80 years. By isolating the expiration of the Bank’s charter from any other must-pass legislation, Chairman Hensarling and his ideological stalwarts are counting on increased partisan gridlock to shutter the institution in July.
Although Mr. Hensarling believes this could ultimately result in the Bank’s demise, he and Mr. McCarthy should be ready for Democrats and Republicans to engage in a tireless, bipartisan effort to preserve the Bank, and ensure America’s businesses continue to compete in the global economy. Over the next several months, I will continue working with my congressional colleagues, businesses, labor groups and many others to ensure the Bank remains able to support American jobs for years to come. It’s time to end the uncertainty for businesses and extend the Export-Import Bank for the long-term.”