Rubén Hinojosa: “I rise in support of H.R. 2871, the Export Import Bank Reauthorization Act. As a businessman from the United…”

“I rise in support of H.R. 2871, the Export Import Bank Reauthorization Act. As a businessman from the United States-Mexico border region, I know how important exports are to our economy and to businesses, both large and small and medium. The Export Import Bank has been an important partner in helping companies find foreign markets and to export their goods. In the 15th congressional district of Texas that I represent, the Export-Import Bank has provided over $145 million of assistance in the form of loan guarantees, insurance, and working capital. Access to capital means expansion of business firms who create many jobs in neglected regions like mine where the unemployment rate was in double digits for over 3 decades. The Export-Import Bank is partially responsible for helping reduce the rate from 20 percent to only 10.5 percent in Hidalgo County in south Texas. One company, for example, Hermes Trading Company in Pharr, Texas, is a small company that sells musical instruments. The assistance from the Ex-Im Bank has allowed them to expand their business into new markets, and they have doubled their sales. I urge my colleagues to support this bill and reauthorize the Export Import Bank.”