Rep. LaMalfa Opposes Reauthorizing Ex-Im Bank

Washington, DC - Rep. LaMalfa today released the following statement in opposition to reauthorizing the Export-Import Bank.

"Tonight I plan to vote against reauthorizing the Export-Import Bank, a federal entity that financially backs purchases of American goods and services by providing taxpayer backed loans and loan guarantees to foreign companies and governments. While the Ex-Im Bank can help American industry break into foreign markets, too often it underwrites purchases by companies that directly compete with domestic companies, placing them at a significant disadvantage. Furthermore, Ex-Im supporters used a discharge petition to bring this bill it to the floor, a parliamentary tactic which limits the use of amendments and creates an end-run around the normal committee process that should apply to every measure considered by Congress. It is the American public that shoulders the risk of these loans and, at the very minimal, they deserve an honest debate on the best way to move forward in promoting our exports abroad."

Congressman Doug LaMalfa is a lifelong farmer representing California's First Congressional District, including Butte, Glenn, Lassen, Modoc, Nevada, Placer, Plumas, Shasta, Sierra, Siskiyou and Tehama Counties.

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