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Export-Import Bank Reform and Reauthorization Act of 2015

Floor Speech

Date: Oct. 27, 2015
Location: Washington, DC

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Mr. HECK of Washington. Mr. Speaker, I thank the ranking member.
Mr. Speaker, watching the nonstop ideological warfare waged on the
Export-Import Bank over the last nearly 3 years reminds me of my very
favorite Will Rogers adage: People feel about Congress the same way
they do when baby gets hold of the hammer. And that is, in fact, what
we have been treated to.

But the fact of the matter is today we have an opportunity to turn
that adage on its ear and do something that the American public will
feel good about Congress for, for today we have an opportunity to vote
for jobs, 164,000 in just last calendar year supported by the Ex-Im,
good-paying jobs, send-your-kid-to-college jobs, buy-a-home jobs, take-
a-vacation jobs, and have-a-secure-retirement jobs.

Mr. Speaker, tonight we have an opportunity to strengthen and protect
the manufacturing base of America, because the truth of the matter is
it is not unrelated to our national defense infrastructure. The same
entities that make up our manufacturing base keep us safe, and we
should not forget that.

Tonight we have an opportunity, indeed, to vote for reform of the
Export-Import Bank despite the fact that it has a default rate that is
the envy of commercial banks and a collection rate as well.

Mr. Speaker, the truth of the matter is we can vote to increase loss
reserves, improve risk management, modernize and update their IT, and
notwithstanding what was said by the gentleman from Michigan, it also
has a pilot recourse program in it on the reinsurance for payment side.

Tonight we have an opportunity to vote for a reduction of the
deficit. Yes. The Ex-Im for a generation has transferred cash--the heck
with your theoretical accounting model--transferred cash into the U.S.
Treasury, $675 million just last fall.

Let me say it again. Tonight we have an opportunity to vote for jobs.
No more Waukesha, Wisconsins, Ms. Moore, no more Waukesha, Wisconsins,
where an entire factory is being shuttered because we have failed to do
our job in reauthorizing the Export-Import Bank.

Mr. Speaker, I want to thank the ranking member, the leader, the
whip, and especially I want to thank my friends, Mr. Lucas of Oklahoma
and Mr. Fincher of Tennessee, for their profile in courage. It was,
indeed, a profile in courage to do the right thing. Tonight we have an
opportunity to put American jobs first. Tonight we have an opportunity
to put America first.

I don't know about you, but I came here from the private sector. I
don't reside in some kind of fantasy plot within an Ayn Rand novel. I
live in the real world, and in the real world we solve problems. This
will solve problems. Vote ``yes''.

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