Stanton Pushes for Export-Import Bank, Highlights Success of Tempe-Based Exporter First Solar

Statement

Thank you to the Gentlewoman for yielding. I rise today in support of H.R. 4863, the United States Export Finance Agency Act which will reauthorize the Export-Import Bank for 10 years.

I am proud to cosponsor and support this bill for one simple reason: businesses across Arizona looking to create good jobs and export their products across our international borders need certainty to succeed.

Main-street is still the backbone of my state's economy, and the Export-Import Bank is an essential tool to ensure they remain competitive in an increasingly competitive global market.

I want to highlight one business headquartered in Tempe in my district. First Solar focuses on securing the energy-of-the-future by developing next-generation PV technology.

The company exports solar panel technology around the world and has benefited from nearly $4 million in export financing from the bank. First Solar is just one of the many environmentally friendly companies that benefit from the Export-Import Bank.

In Arizona, 4 out of 5 exporters supported by the bank are small businesses. In the last five years alone, it has supported upwards of $2 billion in exports across my state.
Congress has a duty to reassert its role in U.S. trade policies as our exporters continue to face challenges on all fronts.

If we can't find common ground and reauthorize the bank, we will be removing one of the most essential tools that American companies have.

I strongly encourage my colleagues to support this important bill in order to provide certainty and to level the playing field for American businesses across the country.

I want to thank Chairwoman Waters for leading this effort.

With that, I yield back.

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