Maxine Waters

Ms. MAXINE WATERS of California

Ms. MAXINE WATERS of California. Mr. Chair, I yield 2 minutes to the gentleman from Tennessee (Mr. Fincher).

Ms. MAXINE WATERS of California. Mr. Chairman and Members, this desperate attempt by my friends on the opposite side of the aisle, this last-minute attempt to try and kill Ex-Im, is laughable. I am asking all of the Members of this House to simply see it for what it is and vote against it. Vote ``no'' on these amendments and this amendment. I yield back the balance of my time.

Ms. MAXINE WATERS of California. Mr. Chair, I yield 1 minute to the gentleman from Tennessee (Mr. Fincher).

Ms. MAXINE WATERS of California. I yield 1 minute to the gentleman from Washington (Mr. Heck).

Ms. MAXINE WATERS of California. Mr. Chair, I yield 1 minute to the gentlewoman from Wisconsin (Ms. Moore), who serves on the Financial Services Committee.

Ms. MAXINE WATERS of California. Mr. Chair, I yield myself 1 minute. Mr. Chair, I rise in opposition to yet another poison pill amendment offered by the gentleman from South Carolina. The amendment seeks to create an odd linkage between the world's sovereign wealth funds and the provision of export credit financing. Given the fact that, even if these funds involve themselves a great deal in the provision of export financing, which I understand they do not, I would assume they would be more interested in financing their own country's exports and not the exports of American goods and services. In any event, I want to be very clear about one thing. The purpose of the U.S. Export-Import Bank is to support American jobs by boosting U.S. exports. The Bank exists to serve American interests. So when we withhold financing from the potential foreign purchaser of a U.S. product or service, we are only hurting ourselves. This is not a serious amendment. I urge Members to oppose it. I reserve the balance of my time.

Ms. MAXINE WATERS of California. Mr. Chairman, I demand a recorded vote.

Ms. MAXINE WATERS of California. I yield back the balance of my time.

Ms. MAXINE WATERS of California. Mr. Chair, I claim time in opposition to the amendment.

Ms. MAXINE WATERS of California. Mr. Chairman, I yield 1 minute to the gentleman from Oklahoma (Mr. Lucas).

Ms. MAXINE WATERS of California. Mr. Chairman, I yield 1 minute to the gentleman from Illinois (Mr. Kinzinger).

Ms. MAXINE WATERS of California. Mr. Chairman, I yield 2 minutes to the gentleman from Washington (Mr. Heck).

Ms. MAXINE WATERS of California. Mr. Chairman, I yield myself 1 minute. This amendment offered by the gentleman from South Carolina is yet another attempt to undermine the reauthorization of the Ex-Im Bank by requiring multiple denials of assistance from the private sector be provided as a precondition of obtaining financing. The Ex-Im Bank would not exist if they had to go before someone and require that they look at their application 10 times, 15 times. This would be burdensome. It would be time consuming and, more likely, unworkable for the potential uses of the Ex-Im Bank. The fact is that private sector banks don't generally issue letters of rejection, likely making compliance with the amendment impossible. I also take issue with the provisions included in the amendment that are designed to intimidate potential users of the Bank who would be liable if they were found to have not adequately determined whether private sector financing may have been available to them. I urge Members to oppose this amendment, which would impose new restrictions on U.S. businesses alone, putting them at a unique disadvantage. I reserve the balance of my time.

Ms. MAXINE WATERS of California. Mr. Chairman, I claim the time in opposition.

Ms. MAXINE WATERS of California. Mr. Chairman, I yield back the balance of my time.

Ms. MAXINE WATERS of California. Mr. Chairman, I yield 1 minute to the gentleman from Tennessee (Mr. Fincher).

Ms. MAXINE WATERS of California. Mr. Chairman, I yield 1\1/2\ minutes to the gentleman from Oklahoma (Mr. Lucas).

Ms. MAXINE WATERS of California. Mr. Chairman, I yield 1\1/2\ minutes to the gentleman from Washington (Mr. Heck).

Ms. MAXINE WATERS of California. Mr. Chair, I yield myself 1 minute. This amendment, offered by one of the leading opponents of the Ex-Im Bank, would effectively chop the Ex-Im Bank's mission in half by eliminating the Bank's role in providing finance to fill market gaps that the private sector is unable to meet. This would overwhelmingly harm the small businesses that use the Bank and that often have the hardest time securing the financing they need through the private sector alone. For example, when U.S. small businesses are seeking to export, commercial banks often refuse to accept foreign receivables as collateral for a loan without an Ex-Im guarantee. Without Ex-Im, these small businesses would be unable to extend terms to foreign buyers and would have to ask for cash in advance. In these cases, sales would almost always go to a firm from another country that can count on the backing of its own official export credit agency. I urge all Members to oppose this amendment, which would undermine the Bank's important role. I reserve the balance of my time.

Ms. MAXINE WATERS of California. Mr. Chair, I claim the time in opposition.

Ms. MAXINE WATERS of California. Madam Chairman, I would simply say to the gentleman from Pennsylvania you figure it out. Evidently, you don't know anything about what Ex-Im does and the jobs that it provides. Madam Chairman, I yield 15 seconds to the gentleman from Oklahoma (Mr. Lucas), a leader with courage.

Ms. MAXINE WATERS of California

Ms. MAXINE WATERS of California. Well, if I may, you just said what I said in reverse. And I just wanted it to be clear. As the chairman of the committee tried to state that he would be willing to hold hearings and do what he has not done as we have tried to consider this, that if, in fact, this body does not support it going back to committee, he has no opportunity to try to do what he has not done in the process. Is that correct?

Ms. MAXINE WATERS of California. Mr. Speaker, I yield 30 seconds to the gentleman from Virginia (Mr. Connolly).

Ms. MAXINE WATERS of California. Mr. Speaker, I yield 30 seconds to the gentleman from New York (Mr. Tonko).

Ms. MAXINE WATERS of California

Ms. MAXINE WATERS of California. Mr. Speaker, I reserve the balance of my time.