Walz Floor Speech Pushing Reauthorization of the Export-Import Bank
Washington, DC [6/24/15] – Today, Representative Tim Walz gave a speech on the floor of the U.S. House of Representatives calling on Speaker Boehner to bring forward a bill to reauthorize the Export-Import Bank (Ex-Im), which is a vital tool that supports Minnesota businesses and jobs. Ex-Im works to help American businesses both large and small sell their products in the world market and create jobs right here at home by providing loans or credit that the private sector is unwilling or unable to provide. Without reauthorization, the Ex-Im Bank, which has supported over $3 billion in Minnesota Exports since 2007, will shutter on June 30. [Video can be viewed by clicking the picture below]
Transcript of Speech:
“Thank you Mr. Speaker. I rise with a my colleagues who have spoken before in support of the export import bank, an absolutely vital tool to help small businesses compete in the world market
“It does this not by competing with private sector lenders, but by partnering with them. The Bank fills gaps and provides loans that the private sector folks are unwilling, or most often, unable to.
“And it costs the taxpayers nothing. In fact, since 1990 its generated $7 billion in deficit reduction.
“The Export-Import Bank is overwhelmingly supported by Republicans and Democrats, business groups like the Chamber of Commences and labor leaders like the AFL-CIO. Presidents from Eisenhower to Reagan, Bush, Clinton and President Obama have all been on board.
“So it sure seems like a common sense measure, right? Well, I think we’ve all learned, in this Congress, that a small, vocal extremist minority can derail the most bipartisan measures. And, unfortunately that’s exactly what’s happening.
“I ask you Speaker Boehner don’t allow that small, vocal, extreme minority to derail a very good program. That’s not the way our government is supposed to work
“Southern Minnesota is working too. Businesses like Davisco, Fastenal, and AGCO all rely on the Bank. And the last thing they need is for Congress to get in the way and stop the growth and put their prosperity at risk.
“Speaker Boehner, all we’re asking for is a simple thing, bring it to the floor and let us vote. If it passes, America is better off. I yield back.