ICYMI: Texas Job Creators Say Ex-Im Critics Are Out Of Touch
Senator Ted Cruz and a few D.C. special interest groups continue to get it wrong when it comes to the Ex-Im Bank. While these Washington insiders continue to spread misinformation about the Bank, job creators around the country are paying the price.
As one small businessman who recently met with Cruz remarked, “Cruz’s staff was not interested in hearing about the Texans who work at my plant or the threat to their livelihood that Cruz’s ‘easy win’ killing Ex-Im would bring. The closest the conversation came to addressing the operations of the bank was the charge by staffers, parroting their boss, that Ex-Im practices ‘crony capitalism’ and supporting it was ‘un-American.’”
Below, please find commentary from other Texas job creators regarding their frustration with ideological posturing on Ex-Im.
Texas Exporter Says Cruz “Couldn’t Be More Wrong” When It Comes To Ex-Im Bank. “Frankly, what I heard there left me stunned…Still, I did not expect the hostile and condescending reaction from his staff. Cruz has characterized the Export-Import https://exportersforexim.org/files/2015/07/bank as an agency that takes taxpayer dollars to subsidize ‘corporate fat cats.’ He couldn’t be more wrong. Consider that between 2007 and 2014, the bank has helped more than 1,600 Texas companies export more than $26 billion in goods. But Cruz’s staff was not interested in hearing about the Texans who work at my plant or the threat to their livelihood that Cruz’s ‘easy win’ killing Ex-Im would bring. The closest the conversation came to addressing the operations of the bank was the charge by staffers, parroting their boss, that Ex-Im practices ‘crony capitalism’ and supporting it was ‘un-American.’ Putting aside the oddity of a supposedly pro-business politician refusing to listen to business leaders from his state, these staffers were profoundly uninformed about the operations of the bank.” (Ed Grand-Lienard, “Cruz Deaf To Small Businesses In His Own State,” Houston Chronicle, 3/25/15)
Cruz Supporters Should Think Twice “After The Way His Staff Treated A Delegation Of Texas People Lobbying For” Ex-Im. “I urge Houston businesspeople to think twice about Cruz after the way his staff treated a delegation of Texas people lobbying for the continuation of the U.S. Export-Import https://exportersforexim.org/files/2015/07/bank. they’ve complained very loudly about the disrespect they experienced in washington. the export-import bank is important to hundreds of houston businesses that employ thousands of people because it provides the financial stability necessary to export goods to countries where the legal system is not as reliable as ours… cruz, though, doesn’t care that shutting down the bank will cost thousands of texas jobs.” (Chris Tomlinson, “Don’t Forget Ted Cruz’s Anti-Business Ideology,” Houston Chronicle, 3/23/15)
Texas Exporter Says Cruz Is “Deserting Us On This Issue.” “‘Shame on Sen. Cruz. I voted for him, but we’ll see if I would vote for him again.’ Schubert, who was a U.S. Maritime official in the George W. Bush administration, and other meeting attendees said they left feeling like Cruz was placing political ideology over Texas job creation. ‘We’re his supporters, and he’s deserting us on this issue,’ Schubert said…Ex-Im financing has supported $26 billion worth of Texas exports since 2007, with 1,629 businesses having used the bank in that same time period — 890 of which were small businesses, according to data from the bank…’Appalled,’ was how Patrick Patel, corporate controller at Gaumer Process in Houston, left the meeting. ‘I explained once more how not having the bank would drastically reduce the expansion plans and hiring of new employees,’ Patel said. ‘[They] just said we should find other solutions. [They] had no alternative solution for us.’” (Kevin Cirilli, “Cruz Under Fire From Texas Businesses,” The Hill, 2/27/15)
Ex-Im Critics Are “Out Of Touch With The Critical Role The Bank Plays In Our Nation’s Exports.” “Roughly, one quarter of Texas manufacturing jobs depend on exports, and we are outpacing national export growth, with $279.7 billion in exports last year…Export credit has never been more important to Texas businesses. Reeling from losses during the nation’s financial collapse, banks have imposed industry lending-caps that effectively stop Texas exports that would otherwise be approved – even safe sales secured by physical collateral like aircraft and heavy machinery…Opposition to Ex-Im Bank is unfounded and out of touch with the critical role the bank plays in our nation’s exports.” (Bill Hammond, “Export-Import https://exportersforexim.org/files/2015/07/bank benefits texas,” Houston Chronicle, 5/12/14)
Texas Small Businessman Says “Critics Of The Ex-Im Bank Who Suggest It Benefits Only Large Corporations Are Just Flat-Out Wrong.” “Critics of the Ex-Im Bank who suggest it benefits only large corporations are just flat-out wrong…Air Tractor is one of more than 1,000 companies of all sizes in Texas that benefit from the Ex-Im Bank, which bolsters domestic exports without costing taxpayers a dime… I take exception to the notion that opponents of the Ex-Im Bank are somehow standing up for ‘the little guy.’ With all due respect, Air Tractor is no Ford, no GE, no Boeing. We are Main Street in Olney, Texas. Without the Ex-Im Bank, our ability to compete globally will diminish, alongside many other Texas companies just like us.” (David Ickert, “Critics Wrong That Ex-Im Bank Only Benefits Big Companies,” The Dallas Morning News, 6/8/14)
“If Senator Cruz Succeeds In Eliminating The Ex-Im https://exportersforexim.org/files/2015/07/bank,” Sales And Jobs Are At Risk For Texas Exporters. “For Texas – the nation’s top exporting state – Ex-Im support has been invaluable. Since 2007, over 1,300 Texas businesses have closed Ex-Im deals, more than half of them small businesses or minority-owned. Dickinson’s B&W Fluid Dynamics used Ex-Im financing to break into the Kazakhstan oil field market (and double its workforce along the way). A simple Ex-Im loan guarantee allowed 25-employee Royal Equipment in Conroe to close the largest deal in its history, selling refurbished mining gear into Australia. If Senator Cruz succeeds in eliminating the Ex-Im Bank, these are the sales and the jobs at risk – and there are tens of thousands more like them all across the country…We typically don’t associate strong Texas conservatives like Cruz with the idea of ‘unilateral disarmament,’ but that’s exactly what shuttering the Ex-Im Bank would be.” (Bill Prout, “Cruz Wrong To Try To Shutter Export Import https://exportersforexim.org/files/2015/07/bank,” Houston Chronicle, 9/11/14)