Political Quotes

“For the first time in over a dozen years, an unusual legislative procedure--a discharge petition--has been successfully mounted in the House. This is an extraordinary effort to allow the House to work its will--a mechanism that was part of a package of reform, dating back over a century, to deal with the iron rule of Speaker Joe Cannon. The subject of the petition, the Ex-Im Bank, was almost as obscure as the procedure that brought it to the House. This is an agency that for over 70 years has provided financing for transactions similar to which all of our competitor nations provide their exporting companies. In this case, American companies will have the credit tools that will enable them to cost-effectively engage in international transactions that other private institutions won't finance because of political or commercial risks. Even if providing this service meant a modest exposure to the taxpayer, which might occasionally cost money, it was probably worth it to have the businesses support good-paying American jobs and to be able to compete with foreign companies. Yes, it would be worth it. It is not just a low-risk proposition. The Ex-Im Bank is a service that has made billions of dollars for the United States Treasury. It turns a profit--about $2 million in the last 2 fiscal years. This is interesting--a service that all of our competitor nations provide their companies. It hasn't cost the taxpayers any money. In fact, it makes money for the Treasury.…”