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Stutzman Statement on the Export-Import Bank

Statement

Date: Oct. 27, 2015
Location: Washington, D.C
Issues: Finance and Banking Trade

U.S. Congressman Marlin Stutzman issued the following statement today following the passage of H.R. 597, to Reauthorize the Export-Import Bank of the United States, by a 313-118 vote:

"The Export-Import Bank is not a long-term solution to filling gaps in the private lending market and it is exactly the wrong example for America to set on the world stage. It is no wonder the model has been copied and expanded by China and other countries where cronyism and central planning dominate.

"As a member of the House Financial Services Committee I worked hard on real reforms to the Bank, despite its failure to comply with clear Congressional directives in its last reauthorization. Unfortunately, Export-Import Bank bureaucrats and their allies on K Street continue to insist on growing Ex-Im in perpetuity.

"Our next Speaker Paul Ryan put it perfectly today on the House floor: "We should be exporting democratic capitalism, not crony capitalism.' I strongly oppose reauthorization and will continue to hold the Bank accountable going forward."


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