On the recordMay 15, 2012
I have enjoyed listening to my colleagues on the other side of the aisle talk about Senator Toomey's amendment and all about subsidies. Well, it is hard to argue about subsidies when we are talking about the Ex-Im Bank generating $3.7 billion for U.S. taxpayers since 2005. So if this is a subsidy, we need a lot more of it because you are winning in producing jobs and you are actually producing money for the Treasury. This is a very important tool for us to win in a global economy. I think my colleague from South Carolina who spoke earlier said it best when he talked about the manufacturing jobs that are now in that State and what an important tool it is. I am not one of those who basically says: Oh, we should do it because other countries do it. I am saying, you should recognize that is going on, but that the United States needs to understand there is a global marketplace for its products. If you believe in U.S. manufacturers, as I do--and I have seen them in my State--they are winning the day in producing products and services that can beat the competition in international marketplaces. They can. I have seen grain silos, I have seen music stands, and, yes, I have seen airplanes. So the question is, are we going to let U.S. products that can beat the competition in an international marketplace lose because the purchaser of those products is looking for financing mechanisms that will help them secure financing and purchase of those products? That is the question.…





