Woodall Statement on Export-Import Bank Reauthorization
(Washington, DC) – Today, U.S. Representative Rob Woodall (GA 07) issued the following statement regarding his support of H.R. 597 – “To Reauthorize the Export-Import Bank of the United States.”
“Growing American jobs remains priority number one, and remaining competitive in a global economy is vitally important to sustaining and creating those jobs here at home,” said Rep. Woodall. “As the world markets become increasingly competitive, it is our family members, friends, and neighbors who pay the price when international commerce becomes more difficult for local businesses. The world wants what America makes. Unfortunately, selling those goods overseas often requires the support of an Export Credit Agency (ECA) such as the Ex-Im Bank. If American manufacturers can’t check that box, then they can’t even get a seat at the bidding table to pitch their products. Failure to reform and reauthorize the Ex-Im Bank leaves our domestic producers with only two options: miss out on willing buyers or move their manufacturing facilities and jobs overseas and pursue financing eligibility from another nation’s ECA. The decision to reauthorize the Ex-Im Bank guarantees that America’s manufacturers have a seat at the table and that America's workers have a family paycheck.”
“By including significant reforms in this bill that will increase overall lending to small businesses, prohibit discrimination based on industry or sector, and mandate extensive financial audits of the Ex-Im bank, we take an important step toward prioritizing the responsible use of taxpayer dollars,” Woodall continued. “However, we should begin work today pursuing a level playing field through trade compacts that eliminate the use of ECA’s globally and lead global markets to a free market system that we all know works.”
Congressman Woodall represents the Seventh Congressional District of Georgia, which includes the majority of Forsyth and Gwinnett counties, and currently serves as Chairman of the Rules Subcommittee on Legislative and Budget Process, as well as serving on the Transportation & Infrastructure Committee, and Budget Committee.