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With Time Running Out, Republicans Fail to Stand up for Export-Import Bank

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Washington, DC, June 24, 2015 | comments

With just one day remaining for Congress to act before the Export-Import Bank shuts down, a wide array of Democrats took to the House floor asking for unanimous consent to extend its charter by bringing up H.R. 1031 – a bill sponsored by Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, Monetary Policy and Trade Subcommittee Ranking Member Gwen Moore (D-WI), Reps. Denny Heck (D-WA) and Democratic Whip Steny Hoyer (D-MD).

Waters and Heck also led an attempt to force a vote to bring the measure, which would o reauthorize, reform and re-energize the Export-Import Bank up for a vote. Using a parliamentary procedure called the "previous question," Democrats once again pressed for a vote to consider the legislation.

With 180 Democrats signed onto a discharge petition to bring up this bill and 60 Republicans on the record in support of a long-term reauthorization, it is clear supporters of the Bank have the votes to avoid a shutdown.

However, in a party line vote of 243-181, Republicans defeated the effort. Waters made the following statement:

“With just one day left for Congress to act before the Export-Import Bank shuts down, I’m shocked that my Republican colleagues are planning to leave town without even considering legislation to renew its charter.

Next Tuesday, the Export-Import Bank will stop creating jobs and supporting our small businesses. It will stop helping to make our businesses more competitive.
Nevertheless, Republicans who support the Bank once again failed to stand up for its survival. Failing to act hands countries like China, Russia and countless others that have their own version of the Bank a significant victory at the hands of American workers products, and businesses.

I’m afraid that those who claim to support the Export-Import Bank, but refuse to stand up and do so, do not truly support the Ex-Im – or the jobs it creates.”

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