CASTRO, MEMBERS OF TEXAS DEMOCRATIC DELEGATION URGE SPEAKER BOEHNER TO ALLOW VOTE ON EX-IM BANK REAUTHORIZATION
Washington, D.C. - Yesterday, Congressmen Joaquin Castro (TX-20) and fellow members of the Texas Democratic Delegation sent a letter urging U.S. House of Representatives Speaker John Boehner (OH-08) to allow a vote on the reauthorization of the Export-Import (Ex-Im) Bank. Without congressional action, the Ex-Im Bank's charter expires on Tuesday, June 30.
"The Ex-Im bank provides critical financing for Texas businesses looking to export their goods, supports Texas jobs, and costs American taxpayers no money,"? said Rep. Castro. "Allowing the bank to shut down next week is irresponsible and a disservice to hardworking Texans who want to grow their businesses. If House Republicans care about American workers and maintaining our country's competitive edge in international markets, they should allow the House to vote on reauthorizing the Ex-Im Bank."
The Ex-Im Bank supports more than 135,000 Texas jobs. Since 2007, the bank has provided financing for $22 billion of Texas exports, with a total export value of $31 billion. In Congressman Castro's 20th District, the Ex-Im Bank provides crucial financing support to 22 exporters, including 15 small businesses.
The Texas Democrats who joined Rep. Castro in signing the letter to Speaker Boehner are Reps. Gene Green (TX-29), Eddie Bernice Johnson (TX-30), Lloyd Doggett (TX-35), Rubén Hinojosa (TX-15), Henry Cuellar (TX-28), Al Green (TX-09), Beto O'Rourke (TX-16), Marc Veasey (TX-33), and Filemon Vela (TX-34).
Text of the letter is included below.
[BEGIN LETTER TEXT]
The Honorable John Boehner
Speaker
H-232, The Capitol
U.S. House of Representatives
Washington, DC 20515
Dear Speaker Boehner:
We, the Texas Democratic delegation, write to you today to express our grave concern for the quickly approaching deadline for the Export-Import (Ex-Im) Bank and its potential impacts to Texas jobs and economic well-being of the Lone Star State. Additionally, we are particularly concerned by recent statements from Members of your Republican Caucus that play politics at the expense of U.S. businesses and their workers and cherry-pick slanted criticisms against the reauthorization.
As you know, Ex-Im expires on June 30, 2015 without congressional action. As Texas lawmakers, we have a responsibility to stand up for Texas before that date. This independent, self-sustaining agency with a rich bipartisan history - lasting through 80 years of Republican and Democrat administrations and Congresses - has a strong track record of economic growth and job creation for Texas, at no cost to the taxpayer.
If you and your Republican colleagues allow Ex-Im to shut down, Texas, of all the states, has the most to lose.
- Texas jobs: Ex-Im supports more than 135,000 jobs.
- Texas economy: Ex-Im provided financing for $22 billion in exports from the state since 2007, with a total export value of $31 billion.
- Texas exporters: Ex-Im assists 1,647 total exporters in Texas, including 880 small businesses, 127 minority-owned businesses, and 58 women-owned businesses.
- Texas industries: Ex-Im-supported a range of industries that are important to the Texas economy, including include oil and gas extraction, as well as machinery manufacturing and sales.
Considering the Ex-Im Bank's significant involvement in our state, its closure would inevitably negatively affect Texas businesses' participation in the domestic and international economies. Conversely, other industrial countries with Export Credit Agencies, such as China, Japan, or Korea, would gain significant international sales and contracting advantages if the United States Ex-Im Bank shuts down.
If we do not act, the past 80 years of bipartisan history will come to a screeching halt when the Ex-Im Bank expires in four legislative days.
While the chairman of the committee of jurisdiction remains opposed to the reauthorization, we request your thoughtful reconsideration to allow the House of Representatives to vote on a responsible reauthorization measure. Texas' businesses, workers, and future economic strength are relying on us to do the right thing.
Sincerely,
Joaquin Castro
Member of Congress
Gene Green
Member of Congress
Eddie Bernice Johnson
Member of Congress
Lloyd Doggett
Member of Congress
Rubén Hinojosa
Member of Congress
Henry Cuellar
Member of Congress
Al Green
Member of Congress
Beto O'Rourke
Member of Congress
Marc Veasey
Member of Congress
Filemon Vela
Member of Congress
CC: Kevin McCarthy, Majority Leader of the House
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