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Waters Urges Action to Renew and Reform Export–Import Bank

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Washington, DC, April 30, 2015 | comments

Following comments by Speaker Boehner that, “there are thousands of jobs on the line that would disappear pretty quickly if the [Export-Import] Bank were to disappear," Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, urged the Republicans on the Committee to stand up for American jobs and businesses by taking action to renew and reform the Export-Import Bank, which is set to expire June 30.

The remarks were delivered during a joint hearing today with the Oversight and Government Reform subcommittee on the Bank’s operations.

With only 26 legislative days until the Bank shuts its doors, Waters, Reps. Denny Heck (D-WA) and Gwen Moore (D-WI), along with Democratic Whip Steny Hoyer (D-MD), joined Leader Nancy Pelosi (D-CA) earlier today in signing a discharge petition designed to bypass House Republican leadership and force a vote on legislation to extend the Bank’s charter. The move would advance reauthorization of the export agency introduced earlier this year by leading Democrats, which has garnered 190 co-sponsors.

Full text of Waters’ remarks are below:

“Thank you, and welcome Chairman Hochberg.

Here we are, gathered again to discuss issues that ignore the central fact that the Charter of the Ex-Im Bank is set to expire in 26 legislative days, unless this body takes action.

This is serious. And I can assure you that as eager and driven as some Republicans are to let the clock run out on the Export-Import Bank, there are others who are even more hopeful that they will succeed. That would be the roughly 60 other governments in the world – countries like China and Russia – that would love to see the Ex-Im Bank disappear.

The consequences of failing to reauthorize the Bank are real -- on our nation’s competitiveness, on U.S. companies, and on the livelihoods of hundreds of thousands of American families that work so hard just to make ends meet.

It is simply shameful that not one single commitment has been made by the Chairman of the Financial Services Committee, to take up legislation to reauthorize the Bank.

I certainly agree with Speaker Boehner’s comments this morning that: “there are thousands of jobs on the line that would disappear pretty quickly if the Bank were to disappear.”

To ensure this body gets a vote on the floor, earlier today, I joined Reps. Moore and Heck on the Financial Services Committee to initiate a discharge petition that would bring renewal legislation up for a vote in the House, if the petition is supported by a majority of the Members.

I urge all members to sign on, especially my Republican colleagues, for whom this is a chance to stand up for American jobs and businesses by rejecting the vocal, right-wing of your party that I really don’t believe reflects the values shared by many of us here from both parties.

What we’re doing here today isn’t about oversight it’s about finding excuses – it’s about making up reasons to delay action. It’s a disservice to the American public that expects and deserves better.

Thank you, I yield back..”



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