Maxine Waters: “I rise in support of H.R. 5068, the Export- Import Bank reauthorization bill. I would like to thank the Committee on…”

“I rise in support of H.R. 5068, the Export- Import Bank reauthorization bill. I would like to thank the Committee on Financial Services chairman, Mr. Oxley, and Ranking Member Frank for moving this important measure through our committee. Ms. Pryce, the chairwoman on the Subcommittee on Domestic and International Monetary Policy, Trade and Technology, and, of course, our ranking member, Mrs. Maloney, who has provided leadership on this issue as well as many other issues, has done a fabulous job on making sure that the members of our committee understood very well the importance of the Ex-Im Bank and how it benefits our entire country and small businesses as well as some large businesses. I thank her for bringing this measure to the floor. The reauthorization of the Export-Import Bank, H.R. 5068, is particularly important in light of our current trade deficit which stands at more than $60 billion. Indeed, we must continue to be proactive in terms of programs that will encourage the expansion of our exports. The export sector of our economy is critical to job creation at the local level. This bill makes the Ex-Im Bank more relevant in today's global economy, because it better supports U.S. exports. Last year the bank was engaged in more than 3,000 transactions, with an export value of $17.9 billion and returned over $1.7 billion to the Treasury. This bill should increase the overall level of exports.…”