Thank-You, Export-Import Bank

Floor Speech

Mr. HECK of Washington. Mr. Speaker, last week the Export-Import Bank transferred to the United States Treasury more than $1 billion. The Export-Import Bank does not draw on the U.S. Treasury; it contributes to it. The Export-Import Bank has never drawn on the U.S. Treasury.

Instead, the Export-Import Bank does the following: it creates jobs. By independent assessment, more than 255,000 jobs are created by the bank, jobs that otherwise would not exist. The Export-Import Bank helps small businesses. Indeed, 87 percent of all transactions of the bank directly benefit small businesses.

But I ask you not to take my word for it. I would invite each and every Member of the House to go to the Web site and check the data about the number of transactions in their State and in their congressional district, and how that has helped to grow the economy.

The fact of the matter is that every single developed or developing nation in the world has some form of export assistance, be it direct loan guarantee or direct loans. And theirs, by the way, are proportionally larger as a percent of GDP on average than ours. If we were to discontinue it, it would be the equivalent of unilaterally disarming in an increasingly competitive global economy.

So, one more time: last week, the Export-Import Bank reduced our Nation's deficit by more than $1 billion. The Export-Import Bank creates jobs. It helps small businesses. The Export-Import Bank makes America stronger.

Thank you, Export-Import Bank.

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