Export-Import Bank

Floor Speech

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Mr. NEWHOUSE. Mr. Speaker, I rise today with friends and colleagues from every corner of our great country to support an American institution that, in its 81 years, has created countless jobs here at home and supported the export of American-made goods around the world.

The Export-Import Bank, while first created under Franklin D. Roosevelt in response to the Great Depression, is an institution that has supported American manufacturers and producers through both good times and bad; it has experienced strong support over the years from both Republicans and Democrats.

President Ronald Reagan, praising the Export-Import Bank, declared:

Exports create and sustain jobs for millions of American workers and contribute to the growth and strength of the United States economy. The Export-Import Bank contributes in a significant way to our Nation's export sales.

Mr. Speaker, the charter for the Export-Import Bank recently expired on June 30 of this year, depriving our Nation of a critical financial tool for growing our economy in an age where we must stay as competitive as possible in the global economy.

Today, my colleagues and I will explain the role of the Bank, clear up any misconceptions surrounding it, and explain that, like any institution, it should be reformed to make it leaner and more competitive; this is still a very worthwhile institution that we should support and reauthorize as soon as possible.

I urge House leadership to allow a vote to reauthorize the Export-Import Bank and let the members of this Chamber weigh the merits of the Bank for themselves.

I would like to extend a special thanks to my colleagues, Congressman Collins from New York and Congressman Fincher from Tennessee, who helped organize today's Special Order.

Mr. Speaker, I yield to the gentleman from Tennessee (Mr. Fincher) for his thoughts on the Export-Import Bank.

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