Press Releases

Waters Statement on House Passage of Historic Export-Import Bank Reauthorization

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Washington, DC, November 5, 2015 | comments

Following passage today of H.R. 22, the DRIVE Act, by a vote of 371 – 54, which included a hard-fought, long-term reauthorization of the Export-Import Bank, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, praised colleagues, exporters, workers and business owners, and a broad coalition of advocacy groups on their tireless efforts to revive the export credit agency.

The vote culminated more than two years of advocacy by House Democrats, both in leadership and in the Financial Services Committee, who fought tirelessly to ensure the reauthorization of Ex-Im, the official export credit agency of the United States that supports U.S. jobs by helping to boost U.S. exports abroad. Leading up to the vote, Democrats, led by Waters, joined with Republicans to resoundingly beat back 10 amendments that would have placed reauthorization of the bank in jeopardy.

In her statement, Waters outlined the long process leading to final passage, which included the historic execution of the discharge petition, a rarely used parliamentary tool, in order to bring reauthorization legislation to the floor for a vote.

She pledged to continue her efforts to get the reauthorization legislation to the President’s desk and ensure that the many small businesses and workers in communities across the nation have the opportunity to compete and win in the global marketplace.

Waters released the following statement.

“We have fought so hard, educated so many about the benefits of the Ex-Im Bank, and debunked incorrect and misleading information promoted by the opposition. And we have proven that we will not allow the opposition to continue to continue to use misleading political tactics to make the public believe that by destroying the Bank, and by extension American jobs, that they are saving taxpayers money.

Those Members who opposed the reauthorization of the Export-Import Bank are failing to respect and honor the will the House and the fact that out of the 313 votes to move this legislation forward, 127 were cast by Republicans. And last night, we successfully blocked 10 job-killing amendments offered by opponents of the Bank, clearing the way for final passage of this crucial reauthorization.

Despite unfortunate opposition to reauthorizing the Ex-Im Bank by the Chairman of the Financial Services Committee, Jeb Hensarling (R-TX), I, along with Republican Reps. Fincher (R-TN) and Lucas (R-OK), and Democratic Whip Hoyer, and Reps. Heck (D-WA) and Moore (D-WI), worked together to organize and execute a robust effort to reauthorize the Bank, including employing a rarely used parliamentary tool, the discharge petition, to force the legislation onto the House floor for an up or down vote.

By obtaining the required 218 signatures, not only was the reauthorization legislation taken out of the Chairman’s hands, but it also sent a strong message to the businesses who are the beneficiaries of the Bank: Congress supports their efforts to compete in the global economy, create jobs, and we support the small businesses that make up the U.S. supply chains of large U.S. exporters supported by the Ex-Im Bank.

I am in this fight all way to the signing of legislation that will allow the Ex-Im Bank to carry out its mission of creating and supporting jobs by boosting American exports.”

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