Export-Import Bank Reform And Reauthorization Act Of 2015
Floor Speech
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Mr. Speaker, I want to quickly address my good friend from Minnesota's comments that this Ex-Im Bank doesn't cost any money. The truth is it does. We bailed it out to the tune of $3 billion in the 1980s.
That same argument was made that Fannie and Freddie don't cost the taxpayers any money. Well, it doesn't cost taxpayers money until it does. It is a government backstop. It is a government guarantee.
You see how hard it is: when you are going to take away a government subsidy, man, do businesses fight like you know what to make sure you can't take it away. They love their subsidies, and they will lobby and they will work to make sure to get what they think is theirs.
I tell you, I am tired when I hear some of those Presidential candidates talk about cronyism and those who look out for corporate welfare and they try to point their finger to this side of the aisle.
If you open your ears and listen to this debate, ask yourself: Who is fighting for corporate welfare? Who is fighting to make sure that you have a guarantee in the Ex-Im Bank that supports 80 percent of the dollars to big, massive American businesses? It is Democrats. Democrats partner Big Government with Big Business, and that is what is happening right here.
Picking winners and losers, the story of Delta: Delta has to compete with airplanes that are subsidized in foreign markets by the American taxpayer. They can't compete. So we picked Boeing jobs over Delta jobs? Who are we in this institution to say what job is better?
Let's let the market work. Let's not be the ones that come in and dictate what works and what doesn't.
To think that we are going to set up a system that the Democrats--my friends will say this is about all American jobs. But it is only about American jobs if it meets our political criteria in that if you are dealing with carbon and I don't like carbon and if you are a carbon job, the Bank won't support those who are involved in a carbon export. That is wrong.
Let's stand together. Let's work together. Let's fight for the American taxpayer and take away this government subsidy.
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