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As Clock Ticks on Ex-Im, Waters Urges Immediate Renewal

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Washington, DC, April 15, 2015 | comments

With the Export-Import Bank’s charter set to expire in just 32 legislative days, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, today blasted House Republicans for wasting time hosting a hearing on the implementation of the 2012 reauthorization – and called on them to instead focus on ensuring its doors remain open.

In a joint hearing between subcommittees of both the Financial Services and Oversight and Government Reform Committees, Waters pointed to the strong bipartisan support for renewal by members of Congress.

Legislation introduced earlier this year by Waters, Reps. Gwen Moore (D-WI), Denny Heck (D-WA) and Democratic Whip Steny Hoyer (D-MD), has garnered the support of 190 members of the Democratic caucus, while 61 Republicans have supported an alternative reauthorization measure. This strong support makes clear that if brought to the floor, the Export-Import Bank’s charter could be renewed today.

However, the Committee on Financial Services has yet to hold a hearing on either piece of reauthorizing legislation.

Waters’ opening remarks follow:

“Thank you Mr. Chairman,

I’m sure the irony of today’s hearing to discuss the implementation of the 2012 reauthorization of the Ex-Im Bank is not lost on anyone. Today, not one, but two Committees are holding this hearing on the progress of a three year old law – just as we are only 32 legislative days away from the expiration of the Bank’s charter.

Despite this imminent threat to our economic recovery and American workers, the Financial Services Committee has yet to hold a single legislative hearing to reauthorize the Bank.

Over the course of its 80-year history, the Bank’s charter has been renewed 16 times, supporting hundreds of thousands of jobs and leveling the playing field for American businesses, large and small, so that they can compete for business in the global marketplace.

Earlier this year, my colleagues Gwen Moore, Denny Heck, Minority Whip Steny Hoyer and I introduced legislation to
reform and reauthorize the Bank. The proposal has the support of 190 House Democrats. Another proposal also introduced this year to reauthorize the Bank has garnered the support of 61 House GOP members.
With a majority of House lawmakers officially on record in support of the Bank, it’s clear that this Congress could pass an extension of the Bank’s charter today.

This begs the question: what exactly are we doing here? Unfortunately, the answer is evident. We’re wasting time while the anti-government, anti-American-worker wing of the Republican party works desperately to let the clock run out -- on the Ex-Im Bank, on U.S. businesses, and on the many American taxpayers whose jobs and families count on its support. Over the past few years, the Bank has become more transparent, more efficient and more accountable to the American public, while at the same time, the Republican party, by every one of these measures, has become increasing less so.

Thank you, I yield back. ”


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