Hon. Michael G. Oxley: “I rise today to support the 30-day extension of Ex-Im's reauthorization. Let me take a few minutes to outline for my…”

“I rise today to support the 30-day extension of Ex-Im's reauthorization. Let me take a few minutes to outline for my colleagues why this extension is so critical. Without this 30 day extension, the Ex-Im Bank will not be forced to close its doors, but it will be prevented from doing any new business transactions. What does that mean? It means many U.S. manufacturers will have to sit idle waiting for a full-term authorization, losing millions of dollars in business every day. It means that workers whose jobs depend on exports financed by the Ex-Im Bank will face an unclear future. It means that the international export community will view the U.S. Congress as unsupportive of U.S. exporters and will seek to capitalize by convincing foreign markets that they cannot rely any longer on U.S. manufacturers. I have already received a copy of a letter that calls into question the ability of Ex-Im to transact future deals. That is the international perception. It is critical that we refute that view by passing this legislation.”