United States Export Finance Agency Act of 2019
Floor Speech
BREAK IN TRANSCRIPT
Mr. CASTEN of Illinois. Mr. Chairman, I seek to claim the time in opposition.
BREAK IN TRANSCRIPT
Mr. CASTEN of Illinois. Mr. Chairman, I rise to strongly oppose the Burgess amendment and in support of the underlying bill, the United States Export Finance Agency Act of 2019.
The science is really clear. The climate crisis is here, and we are already seeing its devastating impact. Despite the best efforts of the current administration to the contrary, the United States must be a global leader in acting to combat the climate crisis.
Leading in climate action will not only protect our future from the worst impacts of climate change but will make our Nation more competitive and enable U.S. companies and workers to own the clean energy technologies and jobs of tomorrow.
I was proud to work with all of my colleagues on the Financial Services Committee to introduce an amendment in markup that added strong environmental protections to this reauthorization.
Mr. Chairman, H.R. 4863 provides important reforms to the Ex-Im Bank to ensure it is able to support America's exporters in the 21st century. Let me describe precisely what this amendment would eliminate.
It would eliminate a new office focused on supporting renewable energy-related exports so that we can make these products here in the United States and sell them around the world.
It would eliminate a new target that 5 percent of Ex-Im's financing goes to support renewable energy-related exports.
It would eliminate a requirement that the Ex-Im Bank consult with local communities to ensure that U.S.-financed projects are not causing harm.
It would eliminate a direction from Congress that the Ex-Im Bank establish an accountability mechanism to provide persons who may have been negatively affected by an Ex-Im project to find resolution.
And it would eliminate required disclosures of the estimated CO
Mr. Chairman, these provisions were carefully crafted by the committee to protect the environment and support American workers. However, all of those environmental reforms would be eliminated by the Burgess amendment, harming our efforts to compete with China on new environmental technologies and undermining Ex-Im's efforts to responsibly finance projects around the world.
Why? Because of this theory about economics. Let me be very clear. Coal is dying right now for the same reason that clean energy is rising, because of economics.
Does it cost money to build new projects? You bet it does. Where I come from, that is called an investment, especially when you replace a 1950s technology with a high marginal operating cost with a new, modern technology that doesn't cost anything to operate.
Claiming economics in defense of blocking clean energy is foolish. It is irresponsible. It ain't leadership. It is cowardice. It is irresponsible.
This is the time we have to stand up and lead, and I urge all of my colleagues to oppose this amendment.
BREAK IN TRANSCRIPT
Mr. CASTEN of Illinois. Mr. Chairman, I yield 1 minute to the gentlewoman from California (Ms. Waters), the chairwoman of the committee.
BREAK IN TRANSCRIPT
Mr. CASTEN of Illinois. Mr. Chairman, has the gentleman from Texas closed?
BREAK IN TRANSCRIPT
Mr. CASTEN of Illinois. Mr. Chairman, I yield myself the balance of my time.
Mr. Chairman, the amendment under consideration has nothing to do with moving the Ex-Im forward. Instead, it eliminates needed reforms in the underlying bill to modernize the Bank and bring it into the 21st century. It takes this bill back toward the past rather than looking toward the future.
I urge all my colleagues to vote ``no'' on this misguided amendment. I yield back the balance of my time.
BREAK IN TRANSCRIPT
Source