Today, with just five days for Congress to act before the Export-Import Bank shuts down, Democrats on the Financial Services Committee took to the House floor in an attempt to force a vote to bring legislation to reauthorize, reform and re-energize the Export-Import Bank up for a vote. Using a parliamentary procedure called the "previous question," Democrats are pressing for consideration of H.R. 1031, the “Promoting U.S. Jobs through Exports Act of 2015,” as part of the debate over legislation to repeal the Affordable Care Act.
This legislation, which has 190 Democratic cosponsors, extends Ex-Im’s charter for seven years, increases its lending authority, and modernizes the Bank’s programs to better serve small and medium-sized businesses.
Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, led the effort, along with Monetary Policy and Trade Subcommittee Ranking Member Gwen Moore (D-WI), as well as Reps. Denny Heck (D-WA) and Dan Kildee (D-MI).
Republicans offered no response to the effort, which is expected to be voted on later today.
“Congress has just five days to act before the Export-Import Bank shuts down. We are in the 11th hour,” said Ranking Member Waters. “Democrats are coming to the floor today to implore our numerous Republican colleagues who support the Export-Import Bank – starting with Speaker Boehner – to stand up for jobs, businesses, and American competitiveness – by standing up to the extremists who want to close the Bank.”
"The Export-Import Bank has a proven track record of spurring job growth while keeping American businesses — of all sizes — competitive in global markets,” said Ranking Member Moore. “If Republicans are truly sincere in their desire to ensure our country’s economic security, it’s time for them to put their own politics aside and join Democrats in supporting a long-term reauthorization of this critical financial institution."
“The American people are sick of this exhaustive fight to end the Export-Import Bank. House leaders must answer to the numerous business leaders, chambers of commerce, workers, the financial industry, and members of both political parties fighting for a robust, export-heavy economy and the American jobs it provides,” said Congressman Heck. “If Republican leadership fails to act and provide a vote to reauthorize the Export-Import Bank, they will be handing the world’s business to our Chinese and Russian competitors.”
“For hardworking Americans, the Export Import Bank means jobs and economic growth. Failing to reauthorize the bank’s charter threatens American jobs, American businesses and our economy. In Michigan alone, $11 billion dollars in export value is at risk if Congress fails to reauthorize the Export-Import Bank. I call on Speaker Boehner to bring up our legislation without further delay to reauthorize the Export-Import Bank,” Congressman Kildee said.