Diaz-Balart’s Vote for Ex-Im Bank Supports FL-25 Small Businesses; District Ranks First in Number of Businesses Reliant on Bank
WASHINGTON – Congressman Mario Diaz-Balart (R-FL) released the following statement after the passage of H.R. 597, To Reauthorize the Export-Import Bank of the United States.
"Today's passage to re-authorize the Export-Import Bank will help support the American economy. The Export-Import Bank needed serious reforms, and this legislation achieves that by strengthening risk management, increasing small business lending requirements, enforcing greater anti-corruption safeguards. At a time where nations such as China and Russia are subsidizing businesses for exports, I do not think unilaterally disarming efforts to ensure American businesses can compete internationally is in the United States’ best interest, especially back home in Southern Florida.
“I proudly represent the district that ranks #1 among all congressional districts by the number of businesses the banks supports. The majority of these businesses are not Fortune 500 companies, but rather small businesses heavily reliant on exports-imports. These small businesses depend on financing from the Export-Import Bank to compete with the heavily subsidized businesses in China and Russia, and provide jobs to individuals in the district. The district ranks #15 in the total dollar value of exports supported related to the Bank’s financing.
“This bill will not only bolster our national economy, but our local economy as well. I will continue to support legislation that will positively impact Florida’s 25th congressional district.”