Brady Votes to Level Playing Field for Local Businesses Against China, Europe
by Kevin Brady on October 28, 2015 at 1:41 PM
I released the following statement on the passage of H.R. 597, legislation to reauthorize the Export-Import (Ex-Im) Bank.
This is first and foremost a trade issue. Ending export financing here in the United States isn’t enough, it needs to be phased out around the globe just as we reduce tariffs, quotas and other trade concerns. This should be a top negotiating priority for America as it deals with our global competitors in Asia, Europe and North America.
We need a president who will make this a trade priority, and support from members of Congress to keep it a top trade priority.
Until that occurs I’ll keep fighting to make sure our local businesses have a level playing field when competing around the world. Whether it is a 15 worker company like Royal Equipment Company or Anadarko employing thousands of local workers, both rely on the Export Import bank to finance projects that private banks simply cannot. These projects create local, good paying jobs for Texas workers.”
Background: H.R. 597 reforms and reauthorizes the Export-Import Bank of the United States for five years while making the Bank’s practices more accountable, and enhancing taxpayer protections by requiring the Bank to become more solvent and self-sufficient.