Hoyer: We Need to Give Our Exporters A Fair, Fighting Chance

WASHINGTON, DC – House Majority Leader Steny H. Hoyer (MD) spoke on the House Floor today in support of legislation to reauthorize the Export-Import Bank. Below are excerpts from his remarks and a link to the video:     “This bill enjoys the support of the United States Chamber of Commerce, wide support among the business community throughout America, support of the labor movement, the AFL-CIO, and labor unions all over America, and the support of millions of workers who are producing products here in America.”

“I want to thank [Chairwoman of the House Financial Services Committee] Maxine Waters for her untiring leadership on this issue, and I also want to congratulate my friend, [Rep.] Denny Heck, a Member of the committee from Washington State, who has been as tenacious and faithful in his support of ensuring the reauthorization… as anybody in this House.”

“There's no reason for supporters of American exports on both sides of the aisle not to come together and support the Ex-Im Bank's reauthorization… My hope is that what this House will do today [is] send a strong message of support for the Export-Import Bank. Tell the rest of the world, we're going to compete. Tell the rest of the world, we're going to compete on an even playing field. Tell the rest of the world, we're going to support our exporting community.”

“Countries all around the world have export credit agencies... In fact, China has three export credit agencies that provide more support in just one year than the Export-Import Bank has provided in its entire history. And what do you say by a no vote? We're going to retreat from that competition. We're not going to play. Who does that advantage? China. Who does that advantage? Every one of our other competitors. Who does that disadvantage? American workers. Ladies and gentlemen of the House, we need to give our exporters a fair, fighting chance by providing export financing to American business. That's what this bill does.”