Stakeholder Perspectives on Reauthorization of the Export-Import Bank of the United States, Hearing Before the Subcommittee on Security and International Trade and Finance of the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Twelfth Congress, First Session on Examining Stakeholder Perspectives on Reauthorization of the Export-Import Bank of the United States, June 30, 2011 [open pdf - 4MB]
From the opening statement of Mark Warner: "The hearing this morning adds to the oversight record of the full Banking Committee on the Export-Import Bank. Last month Chairman Johnson held a hearing in the full Committee with Chairman Hochberg of the Bank. The Senate also recently confirmed two of the Bank's Board members. Those hearings are important not just for the normal oversight of the Committee, but because of the Bank's authorization is set to expire on September 30th of this year. A new reauthorization must be signed into law before that date in order for the Bank to continue operating. That sounds strangely reminiscent of another issue which we have got a deadline fast approaching. This reauthorization will take place during a period that may be as important as any in the Bank's history. A core objective of the Bank is to support American jobs, and the President has outlined a national export initiative that seeks to double American exports within 5 years. This initiative could not come at a more critical time for job creation in this country. Although the United States remains the largest exporter in the world, it trails a number of countries in terms of trade as an [sic] percentage of GDP [Gross Domestic Product], and obviously we face increasingly sophisticated competition, especially at the high end of the value-added global supply chain. […] In the face of this new form of competition, the Bank must have the resources and the flexibility to compete. However, these resources and any flexibility cannot come without heightened transparency and accountability, and we cannot expect the Bank to be more competitive without being more efficient." Statements, letters, and materials submitted for the record include those of the following: Mark Warner, Mike Johanns, Michael F. Bennet, Mark Kirk, Osvaldo Luis Gratacós, Richard C. Shelby, Clay Thompson, Douglas Norlen, David Ickert, Thea Mei Lee, Owen E. Herrnstadt, American Apparel and Footwear Association, National Cotton Council, National Council of Textile Organizations, and Air Transport Association of America, Inc.
S. Hrg. 112-294; Senate Hearing 112-294
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