I am pleased Democrats and Republicans reached an agreement to move forward with reauthorization of the Export-Import Bank.

The Bank helps American companies sell their products overseas and hire workers here at home.

It helped private companies add almost 300,000 jobs in more than 2,000 American communities last year.

That’s why labor groups, manufacturers and the U.S. Chamber of Commerce have urged the Senate to move quickly to reauthorize the Bank, which expires at the end of the month.

The second ranking officer at the Chamber of Commerce wrote this to Senators yesterday:

“Failure to enact this legislation would put at risk… American jobs at 3,600 companies that depend on Ex-Im to compete in global markets… Because other countries are providing their own exporters with an estimated $1 trillion in export finance – often on terms more generous than Ex-Im can provide – failure to reauthorize Ex-Im would amount to unilateral disarmament and cost tens of thousands of American jobs. China, for instance, has three export credit agencies that last year provided $300 billion in export finance to its exporters – 10 times more than Ex-Im provided. This bill would help level the financial playing field in export markets and ensure transparency in Ex-Im’s operations.”

This legislation helps American businesses export their products instead of exporting jobs.

Reauthorizing of the Export-Import Bank is the kind of consensus proposal that shouldn’t result in a partisan fight.

And I am hopeful the Senate will pass it overwhelmingly – signaling to American businesses that Congress will do what it takes to help them compete in a global market.

But while Republicans say publicly that they support this important measure, they have insisted on votes on a number of amendments that would gut or even kill the bill.

The Chamber of Commerce will consider votes on this measure – and on any amendments that would weaken the Bank – to be keys to determining whether Senators are business-friendly.

The extreme amendments offered by my Republican colleagues would certainly weaken the Bank. One would eliminate it altogether.

The Chamber was clear these kinds of amendments are unacceptable to the business community.

The National Association of Manufacturers issued a similar warning Monday.

Democrats agree. We cannot afford to give an inch to our global competitors.

Canada, France and India already provide seven times the assistance to their exporters that America does. China and Brazil provide ten times the support.

So Senate Republicans are faced with a choice.

They can continue to support extreme amendments that would effectively kill the Export-Import Bank, and risk the wrath of the American business community.

Or they can work with Democrats to reauthorize the Bank – without adding amendments that would undermine its ability to help businesses grow.

I’m optimistic my Republican colleagues will make the right choice.

There was a time when legislation that would reduce the deficit and support hundreds of thousands of jobs would fly through the Senate with bipartisan support.

Not so today.

Instead a worthy measure that would support almost 300,000 American jobs – the Export-Import Bank – may stall in the Senate this evening.

The holdup: more Republican obstruction.

Tonight the Senate will vote on whether to end a filibuster of reauthorization of the Export-Import Bank.

The Bank helps American companies grow and sell their products overseas.

Last year, Export-Import Bank financing helped 3,600 private companies add almost 300,000 jobs in more than 2,000 American communities.

The last time the Senate considered Export-Import Bank legislation, it was offered by a Republican Senator and passed by unanimous consent.

So it’s unfortunate that I had to file cloture on this bill.

We shouldn’t have to argue over bipartisan proposals like this one. And I remain hopeful we can still find a way to work together on it.

The Export-Import Bank has the support of two groups that rarely see eye to eye – labor unions and the U.S. Chamber of Commerce.

The National Association of Manufacturers, the largest manufacturing association in the United States representing manufacturers in every industrial sector and in all 50 states, has urged the Senate to pass it.

It has Republican co-sponsors.

And it passed the House – without amendment – on a 330-93 vote last week.

This is exactly the kind of smart investment Congress must make to keep the economy on the road to recovery.

And it’s the kind of consensus proposal that shouldn’t require Democrats to break a filibuster.

When Senate Democrats brought reauthorization of the Bank to the floor in March, we assumed it would pass on a strong, bipartisan vote.

Yet Senate Republicans voted nearly unanimously against it in March – despite their public confessions of support for it. And they are threatening to do the same today.

They are once again forcing us to run out the clock on this measure, which expires at the end of the month.

Frankly, the behavior of my Republican colleagues over the last week has been baffling.

They say they support Democratic efforts to keep interest rates on federal loans from doubling for 7 million college students.

And then they vote down the proposal.

They say they support the Export-Import Bank.

But they’ve voted the measure down once, and they’re threatening to do it again.

With Republicans willing to use every obstructionist tactic in the book, even on bills they support, it’s a wonder the Senate gets anything done at all.

Further delay could allow the Bank’s lending authority to lapse, putting jobs at risk.

But there is still time for my colleagues on the other side to reverse course. There is still time to work together to pass this measure.

I understand my Republican colleagues want to offer amendments to this bill – including several that would gut the Export-Import Bank, or eliminate it altogether.

Even if those amendments weren’t egregious, changing this legislation now will only waste more time.

The process of reauthorizing the Export-Import bank has taken months already. There is no reason to waste a moment more.

American exporters are counting on us to get something done this week.

So I hope my Republican colleagues will consider the consequences of another filibuster, and join Democrats to reauthorize the Export-Import bank without delay.

On a strong, bipartisan vote yesterday, the House passed a piece of common-sense, job-creation legislation – the reauthorization of the Export-Import Bank.

For years the Export-Import Bank has helped American companies grow and sell their products overseas.

And for years, the Bank has enjoyed broad, bipartisan support – often passing unanimously or by voice vote.

This is a perfect example of the kind of smart investments Congress should be making to spur job growth.

I hope the Senate will be able to quickly approve the House-passed measure today by unanimous consent.

I am optimistic the 330 to 93 vote in the House yesterday will be enough to convince Senate Republicans they shouldn’t hold up this legislation any longer.

The process of reauthorizing the Export-Import bank has already taken too long. I hope I don’t have to file cloture on this matter, but I will if I must.

Let me remind you, the Senate considered reauthorizing the Export-Import Bank in March – nearly two months ago.

Senate Republicans had an opportunity to support this measure then. Instead, all but three Republicans opposed it, and the measure failed.
American exporters have already waited in limbo for two months to see whether Republicans would come around to backing this business-friendly, job-creating policy.

Businesses shouldn’t have to wait any longer.

We can’t afford more of the partisan obstruction we saw in March.

To get to the President’s desk this Congress, every piece of legislation needs Democratic and Republican votes.

That’s just reality. And it means we absolutely must work together if we want to get anything done.

One man who has always been willing to extend a hand to colleagues across the aisle is the Senior Senator from Indiana, Senator Richard Lugar.

His first priority has always been getting things done for the American people – whether that means keeping the world safe from nuclear war or looking out for Hoosiers back home.

Senator Lugar has been a great advocate for the people of Indiana as well as a dedicated student of international affairs.

He’s never missed a meeting with a foreign head of state as long as I have served with him in the Senate.

Senator Lugar has always put the American people first and political party second.

I was elected to the Senate to serve each and every Nevadan – not only the Democrats, although I am proud to be one.

Senator Lugar was elected to serve every Hoosier – regardless of political affiliation – and he has done so well and wisely in the Senate for more than three decades.

Throughout the history of this country – even in the most trying of times, times of great social and political unrest – our elected representatives have worked together despite their differences to do what is right for all Americans.

So I worry when I see dedicated patriots like Senator Lugar drummed out by Tea Party zealots for being too willing to cooperate.

I worry when I hear a candidate for U.S. Senate campaigning against bipartisanship and compromise between our two parties.

And I worry when a candidate for U.S. Senate says so clear that he will put political party and partisanship before country and compromise.

That’s nothing to be proud of. That kind of attitude is why long-time political observers Thomas Mann and Norman Ornstein described today’s GOP as “ideologically extreme” and “scornful of compromise.”

And it’s why my friend, Senator Lugar, said this in his concession speech last night:

“Bipartisanship is not the opposite of principle. One can be very conservative or very liberal and still have a bipartisan mindset. Such a mindset acknowledges that the other party is also patriotic and may have some good ideas.”

We should all remember – regardless of our party – that compromise has been the hallmark of this country for more than 200 years.

Points Out That A Stand-Alone Reauthorization Would Fail In The House Due To Tea Party Opposition

Looks Forward To Working With Republicans To Finding A Vehicle For Reauthorization That Would Guarantee Passage

Washington, DC – Senate Majority Leader Harry Reid replied in a letter to Republican excuses for voting against the re-authorization of the Export-Import Bank. Despite claiming to support the Bank’s reauthorization, Senate Minority Leader Mitch McConnell led a filibuster last week to prevent the Bank from being reauthorized, and is now calling for the reauthorization to be advanced as a stand-alone that would fail to pass the House of Representatives due to Tea party opposition.

Senator Reid states that while he opposes advancing a stand-alone reauthorization that has no chance of passing the House, he looks forward to working with Republicans to find a vehicle that will ensure reauthorization of the Export-Import Bank. The letter was delivered to Republicans earlier today, and was written in response to a letter that Republicans wrote to Senator Reid this week.

“I am surprised by your claim of support for the Bank, given that just last week you led a coordinated and successful effort to defeat its reauthorization,” Senator Reid writes. “If you had not opposed reauthorizing the Export-Import Bank, led a Republican filibuster and insisted on a 60-vote threshold, it would have already passed the Senate with bipartisan support,” he points out.

In response to Republican requests to bring up the Bank reauthorization as a stand-alone measure, Senator Reid points out that such a move would be guaranteed to fail in the House of Representatives, where Tea Party Republicans staunchly oppose the Bank.

“Unfortunately, it has come to my attention that Members of the House who are ideologically opposed to the Export-Import Bank’s very existence intend to oppose its reauthorization and severely curtail its operations, making the prospect of a stand-alone reauthorization of the Bank passing the House remote,” Reid writes.

“The Bank’s reauthorization did not need to be a fight,” Reid writes. “I look forward to working with you to find another vehicle that would ensure passage of the Export-Import Bank through the House. It is obvious that you regret your vote, and I sincerely wish that when the opportunity had presented itself, you had voted according to the dictates of your conscience.”

The full text of the letter is below and attached as a PDF.

###

March 30, 2012

Dear Colleague:

Thank you for your letter regarding reauthorization of the Export-Import Bank.  The Export-Import Bank is an essential tool for providing American companies with a level playing field in a global economy, creating jobs, and revitalizing America’s manufacturing sector.  I am surprised by your claim of support for the Bank, given that just last week you led a coordinated and successful effort to defeat its reauthorization.

I was also surprised to learn that you believe Senate action on the reauthorization would be brief.  If you had not opposed reauthorizing the Export-Import Bank, led a Republican filibuster and insisted on a 60-vote threshold, it would have already passed the Senate with bipartisan support on a vote of 55-44 on Senate amendment 1836.  Moreover, as you undoubtedly know, Republicans have been responsible for an unprecedented number of filibusters, causing delay and postponement to become common place in the Senate.

The Bank’s reauthorization did not need to be a fight.  The provisions in the reauthorization had been approved by the Chairman and Ranking Member of the Senate Banking Committee, and the amendment was cosponsored by Senators Shelby and Graham.  Although it defies belief, even the Republican cosponsors of the reauthorization voted against it.

Unfortunately, it has come to my attention that Members of the House who are ideologically opposed to the Export-Import Bank’s very existence intend to oppose its reauthorization and severely curtail its operations, making the prospect of a stand-alone reauthorization of the Bank passing the House remote.  The Bank creates jobs, provides capital to small businesses, and enjoys bipartisan support, and it was an ideal fit for the bipartisan JOBS Act, which was designed to provide small businesses with greater access to capital.  Attaching the Bank’s reauthorization to the JOBS Act, which had strong bipartisan support in the House, would have provided a vehicle for reauthorization that would have garnered the support necessary to overcome House Republicans’ opposition.

Even if Senate Republicans are in fact ready to reverse their position and support the Bank, as your letter suggests, I foresee no possibility of the reauthorization receiving the necessary support from your colleagues in the House.  I look forward to working with you to find another vehicle that would ensure passage of the Export-Import Bank through the House.

I am sorry to learn that you regret your vote, and I sincerely wish that when the opportunity presented itself, you had voted according to the dictates of your conscience.

Sincerely,

HARRY REID

Majority Leader
United States Senate-Nevada

CC:      The Honorable Lindsey Graham

The Honorable Kelly Ayotte

The Honorable Daniel Coats

The Honorable Mike Johanns

The Honorable Saxby Chambliss

The Honorable Rob Portman

The Honorable Jeff Sessions

The Honorable John Boozman

The Honorable Thad Cochran

The Honorable John Hoeven

The Honorable Johnny Isakson

The Honorable Roy Blunt

The Honorable Richard Shelby

The Honorable Lamar Alexander

The Honorable Lisa Murkowski

The Honorable Mark Kirk

The Honorable Pat Roberts

The Honorable Dean Heller

The Honorable Richard Burr

The Honorable Kay Bailey Hutchison

The Honorable Roger Wicker

The Honorable Scott Brown

The Honorable Richard Lugar

The Honorable James Inhofe

The Honorable Susan Collins

The Honorable John McCain

BUDGET DEAL

For it...

...Before they were against it.

SENATE HIGHWAY BILL

For it...

...Before they were against it.

EXPORT-IMPORT BANK

For it...

...Before they were against it.

“Today, Republicans voted against an overwhelmingly bipartisan measure that would have supported more than 300,000 American jobs simply to provide cover for Tea Party extremists in the House. Once again, Republicans are manufacturing a fight instead of working with Democrats on bipartisan solutions to create jobs. Reauthorizing the Export-Import Bank is something that has always been done on a broad, bipartisan basis. Yet like so many other common-sense measures that used to pass without a fight, Republicans have turned this bipartisan bill into a partisan political battle.

“Republicans must now explain to the American people why they decided that the marching orders they received from their extremist Tea Party allies are more important than the jobs of hard-working Americans across the country.”

For years the Export-Import Bank has helped American companies grow and sell their products overseas. And for years, the Ex-Im Bank has enjoyed broad, bipartisan support.

When it was last authorized in 2006, the Ex-Im bank passed the House by voice vote and the Senate by unanimous consent.

So when Senate Democrats brought a reauthorization of the Ex-Im Bank to the floor last week, we hoped the legislation would receive bipartisan, bicameral support – as it did in 2006.

After all, the measure will support about 300,000 jobs and help American exporters continue to compete in a global economy.

It passed the Banking Committee unanimously.

It has three Republican co-sponsors.

It’s backed by the National Association of Manufacturers, the Business Round Table and the U.S. Chamber of Commerce.

And it will actually reduce the deficit by about $1 billion.

The Ex-Im Bank is one of those proposals we shouldn’t have to argue over.

But true to form, Republicans in the House are once again spoiling for a fight where there shouldn’t be one.

Yesterday, House Majority Leader Eric Cantor called our bill to reauthorize the Ex-Im Bank a “partisan amendment.”

And he claimed this non-controversial, common-sense measure is derailing efforts to pass an IPO bill that would expand innovators’ access to capital. That’s just not true.

Leader Cantor should check in with his Senate colleagues.

Many of them understand American exporters need access to federal financing to stay on a level playing field with global competitors.

Just yesterday, the Senior Senator from South Carolina, Lindsey Graham, said without the Ex-Im Bank “our ability to grow in South Carolina is non-existent.”

In 2011, South Carolina exporters sold more than $130 million worth of goods abroad thanks to Ex-Im Bank financing.

And South Carolina isn’t the only state relying on the Bank to keep businesses thriving.

Nevada companies exported $33 million worth of their products last year thanks to financing from the Export-Import Bank.

In 2011, in the Presiding Officer’s home state of Delaware, the Ex-Im Bank made it possible for private firms to sell more than $39 million worth of goods overseas.

Last year, the Ex-Im Bank supported almost 300,000 jobs across 49 states.

China already provides more investment capital to its exporters than the United States, Canada, Germany and the United Kingdom combined, as Senator Graham said yesterday during a conference call in support of this legislation.

We cannot allow that gulf to widen.

The U.S. Chamber of Commerce says, “Failure to reauthorize Ex-Im would amount to America’s unilateral disarmament in the face of other nations’ aggressive trade finance programs.”

American companies have no choice but to go head-to-head with these Chinese exporters.

But in this Chamber we do have a choice: we can compete, or we can cooperate.

We can engage in yet another unnecessary, unproductive battle. Or we can work together to help American businesses grow and hire. The choice shouldn’t be difficult.

The Senate will vote on this reasonable proposal today.

Almost 300,000 Americans had jobs last year because of the Export-Import Bank. I hope those workers come first as Republican colleagues cast their votes this afternoon.

This week the Senate resumes debate of a measure to improve innovators’ access to capital.

This bill passed the House on a bipartisan vote, and has President Obama’s support.

We could make this legislation even better by passing the modest consumer protections included in the substitute amendment we’ll consider tomorrow.

But member of both parties agree we should pass it quickly. We will finish work on this legislation this week.

It’s nice to see Democrats and Republicans standing on common ground for a change.

But while this IPO proposal will be good for businesses – helping give startups the flexibility they need to hire and grow – experts agree that its impact on job creation will be limited.

So it’s important Congress also reauthorize the Export-Import Bank – or Ex-Im Bank – right away.

Reauthorization of the Export-Import Bank will help American exporters compete in a global economy and sell more of their products overseas.

Last year, Ex-Im Bank financing helped 3,600 private companies add almost 300,000 jobs in more than 2,000 communities.

That’s why the Ex-Im Bank has always enjoyed broad, bipartisan support.

The last time the Senate considered Export-Import Bank legislation, it was offered by a Republican Senator and passed by unanimous consent.

The reauthorization legislation we’ll vote on tomorrow is also bipartisan. It passed the Banking Committee unanimously.

It has three Republican co-sponsors and the strong backing of the U.S. Chamber of Commerce.

Yet I have read that some of my Republican colleagues don’t want to advance this bipartisan measure.

Instead they want to start yet another drawn-out fight over a proposal that passed unanimously last time the Senate considered it.

So let’s review what’s at stake. Unless Congress acts, the Ex-Im Bank may hit its lending limit this month.

American exporters could no longer rely on an even playing field with global competitors.

The Ex-Im Bank loans money to American outfits when private lending is not available. Its investments made $41 billion in U.S. exports possible last year alone.

That’s why Ex-Im Bank Chairman Fred Hochberg [Haak-berg] says our competitors abroad “are licking their chops” at the idea that America would stop backing businesses that sell their products overseas.

Many of the companies that are growing and hiring because of Export-Import Bank financing are small businesses. But the CEOs of large outfits such as Boeing, American Express, Johnson and Johnson, Caterpillar, GE and Motorola are also on record supporting the Em-Im Bank.

American entrepreneurs can’t afford for Congress to give up on them now. China already provides three to four times as much financing as we do to help to their exporters.

We must continue to give American businesses a fair shot to compete in a global market.

Since the Ex-Im Bank doesn’t add a penny to the deficit, there is no excuse for Republicans not to support it.

The non-partisan Congressional Budget Office says this common-sense legislation would actually reduce the deficit by almost $1 billion.

It’s critical we pass the IPO bill to help businesses access capital. But it’s even more important we reauthorize the job-creating Export-Import Bank, which helps those companies compete abroad.

The Ex-Im Bank proposal will support hundreds of thousands more jobs than the small business capital bill.

Democrats brought this measure to the floor in an effort to find more common ground.

And passing it together would be another accomplishment both parties could be proud of.