House Passes Bipartisan Export-Import Bank Reauthorization, Democrats Oppose GOP Budget Reconciliation Bill That Targets Vulnerable

For Immediate Release:

May 11, 2012

MESSAGE FROM THE DEMOCRATIC WHIP

This week, I was pleased the House passed a bipartisan agreement that I helped negotiate to reauthorize the Export-Import Bank. This bipartisan bill, which passed the House 330-93, will end uncertainty for businesses and provide the resources needed to keep American manufacturers competitive in a global market. Reauthorization of the Ex-Im Bank is an important part of Democrats’ Make It In America plan, as it helps American companies sell their goods all over the world, which supports U.S. jobs. Last year,  financing from the Ex-Im Bank supported more than $41 billion in export sales and helped 3,600 private companies add nearly 300,000 jobs across the country. I hope the Senate will take up this bipartisan bill quickly, so that we can give businesses the certainty they need, strengthen American manufacturing, boost exports, and create jobs here at home.

While I was pleased we were able to pass this Make It In America bill, I was disappointed that Republicans continue to pursue a partisan deficit reduction plan that makes the wrong choices by ending the Medicare guarantee and targeting the most vulnerable among us, while cutting taxes for millionaires and billionaires. Their budget reconciliation bill passed yesterday is not a balanced approach to deficit reduction. It places the entire burden on seniors, children, the disabled, and low-income Americans, without asking the wealthiest Americans to contribute. I hope that Republicans will abandon this partisan approach and work with Democrats on a plan that asks all Americans to contribute their fair share and prevents sequestration from occurring through a balanced mix of spending cuts and revenues.

Sincerely yours,

STENY H. HOYER

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DEMOCRATIC NEWS UPDATE

On Republicans’ Budget Reconciliation Bill

On the Export-Import Bank

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