Maloney: Failure to extend Export Import Bank hurts small businesses and costs jobs

Jun 24, 2015
Press Release

WASHINGTON – Congresswoman Carolyn B. Maloney (D-NY) today delivered the following remarks on the floor of the U.S. House on the impending expiration of the Export Import Bank. 

“Mr. Speaker, there is just one more congressional work day before the charter for the US Export-Import Bank expires. 

“If Republicans allow it to expire – thousands of Americans will lose their jobs, and many small business owners will be hurt. People like Steve Wilburn. Steve is a pretty amazing guy. He’s a Former Marine – wounded in Vietnam – he owns a small business, and he is a Republican.

“Today, Steve runs a bio-mass-to-energy company, and thanks to the help of our Ex-Im Bank, he had a tentative $300 million deal with the Philippines. But they sent him a letter saying that if the Ex-Im Bank goes under – so does his deal. Steve won’t get the contract, and instead it will go to a South Korean firm, using a South Korean Export Bank.

“Perhaps our ideologically driven friends on the right can explain to Steve, and to his employees who are going to lose their jobs, why that’s a good thing.

“We should join together. Let’s pass the Ex-Im Bank for American jobs.”