On July 25, the House approved, by voice vote, H.R. 5068, a bill to reauthorize the Export-Import Bank. The House Financial Services Committee approved the measure on June 14 (see The Source, 6/17/06). The reauthorization would create a permanent small business division within the bank to provide outreach to small businesses, as well as to advise them regarding bank programs. The bill also would establish an Office of Assistance for Minority and Women Owned Businesses; its goal would be to provide 10 percent of all small business financing to minority and women-owned businesses. The Office also would be required to report to Congress annually on the achievements of performance standards applicable to women-owned and socially and economically disadvantaged small businesses.
Rep. Judy Biggert (R-IL) said, “I rise in support of H.R. 5068, the Export-Import Bank Reauthorization Act of 2006. I would like to thank the gentlewoman from Ohio, Chairman Pryce, for her leadership on this bill. It has been a long process of meetings and negotiations, but I believe that we have crafted a solid product that focuses on the core mission of the Ex-Im Bank. This mission is to increase U.S. exports and, most importantly, U.S. jobs…The mission [of the Export-Import Bank] is so important that we increase U.S. exports and more importantly U.S. jobs. I think that is exactly what this bill is set up to improve and to make sure that that happens. We are in a global economy. We are in competition with countries from all over the world. If we are to maintain our high standards, we have got to compete in the export market. I think this bill will help to do that. I would urge all members to support the bill.”
Rep. Sheila Jackson-Lee (D-TX) said, “I acknowledge the leadership of the Small Business Committee…and the leadership of the Financial Services Committee. I have repeatedly said that the backbone of America are small and medium-sized businesses…I would argue that many of the regions that we are attempting to engage and break the barriers or break the concrete wall of a trade deficit have to do with small and medium-sized businesses, because the continent of Africa is filled with small and medium-sized businesses. Their cultural traditions, their tribal traditions focus on the tribal hierarchy of women entrepreneurs in the marketplace. We find in south Asia, in India, Pakistan, Bangladesh there are opportunities for small and medium-size businesses to work with our small and medium-sized businesses, or for our small and medium-sized businesses to be able to engage internationally.”
