Doug Bereuter: “The International Association of Machinist and Aerospace Workers, of course, supports the legislation, and that is very…”

“The International Association of Machinist and Aerospace Workers, of course, supports the legislation, and that is very current. The Sanders amendment is really contrary to the rest of U.S. trade policy which seeks to open foreign markets to U.S. firms for increased trade investment. A U.S. company that receives less Ex-Im financing may be inclined to move those operations abroad. The requirement for an applicant to provide the information sought by the Sanders amendment is overly burdensome, and would make applying for Ex-Im financing too costly for many companies. I think their alternative is to simply take those export jobs abroad, and then try to penetrate those third-country markets. Mr. Richard Christman, the president of Case N/H, an agricultural business, stated in a hearing before the Committee on Financial Services that one of the factors in deciding to maintain combine production in the U.S. and not to move it to Brazil was the potential availability of Export-Import Bank financing. Those are real jobs maintained by the existence of the Export-Import Bank. I will come back to that in a few minutes, but I remind Members that really we are talking about the subsidy of U.S. worker jobs here--it is not corporate welfare.”