Political Quotes

“Mr. President, I rise today to speak about the Export-Import Bank. Earlier today, I filed the Export-Import Bank Reauthorization Act of 2011. This legislation was approved unanimously by the Committee on Banking, Housing, and Urban Affairs last Thursday. This legislation will ensure that the Bank remains able to continue to provide support for U.S. exporters and workers. The bill extends the authorization of the Bank for 4 years, and will increase the Bank's lending authority to $140 billion by 2015. It also strengthens transparency and accountability at the Bank, seeks to modernize the Bank's IT, encourages the Bank to increase projects designed to create renewable energies, and provides for greater oversight of the Bank's financing and any risks it might have to taxpayers. The Bank's current authorization expires on September 30, 2011, and I hope that this legislation will pass as soon as possible to ensure that the Bank continues to operate. The Export-Import Bank is the official export credit agency of the United States and it assists in financing the export of U.S. goods and services to international markets. Following the financial crisis, the Bank experienced a dramatic increase in its activities as many companies struggled to find financing in the private market. In Fiscal Year 2010, the Bank saw a 70 percent increase in authorizations from 2008. In fact, last year the Bank committed almost $25 billion in support of U.S. exports--a record.…”