As the House of Representatives leaves town for a week-long recess without taking up legislation to extend the Export-Import Bank’s charter just days before it is set to shut down, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement:
“Today, Speaker Boehner and House Republicans have chosen once again to govern by crisis, leaving town without taking a single step to prevent the Export-Import Bank from shutting down. While I remain hopeful that the Bank’s closure will ultimately be brief, the reckless behavior by Republican leadership has left billions of dollars’ worth of U.S. exports, and the jobs these projects support, hanging in the balance.
I find it ironic that House Republicans, the very party that purports to champion the interests of American businesses through confidence and certainty, has ignored this community’s repeated calls to extend the Bank’s charter.
For more than 80 years, the Ex-Im Bank has worked to level the playing field for Americans looking to grow their businesses and sell their products in foreign markets. It has been renewed 16 times without controversy. It’s disappointing that even those Republicans who would support the reauthorization of the Bank have refused to stand up to the policies of the far right led by Chairman Jeb Hensarling, even as businesses and workers lose the critical support they need to compete in the global marketplace.
This display of Republican brinksmanship, the latest in a series of self-inflicted wounds to our economy, could easily have been avoided. Extremist Republicans may celebrate their hollow victory today, but it will most certainly be short-lived. Supporters of the Bank will not give up. We have the votes, and when we return in July, we will continue pressing Republican leadership to take action to ensure the Bank’s charter is extended for the long-term.”