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Washington, DC – Congressman Brett Guthrie (KY-02) issued the following statement after voting against H.R. 597, a bill to reauthorize the Export-Import (Ex-Im) Bank, the export credit agency for the United States government:

“The Ex-Im Bank supports only a very small number of U.S. exporters, yet has amassed significant liabilities for which taxpayers are ultimately responsible.  Only one percent of U.S. exports are financed with the Ex-Im Bank, and some of its loans support foreign state-owned businesses. Without meaningful reforms to the program, I could not support its reauthorization. 

“Instead of government financing for a select few, we should increase competitiveness for all domestic manufacturers.  I have sponsored legislation to increase competitiveness for American businesses by reducing burdensome federal regulations and reforming the federal tax code.  The REBUILD Act (H.R. 3682) is a plan to get the government out of the way of American manufacturers, not a program to benefit a select few using taxpayer dollars. 

“Additionally, I have serious concerns about the way this bill was brought to a vote, through use of a discharge petition.  This procedural motion directly works against the objectives sought by my colleagues to legislate under regular order.”

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