Nolan Votes for Continuing Resolution, Condemns Lack of Export Import Bank & LWCF Reauthorization
WASHINGTON, D.C. – October 1, 2015 – (RealEstateRama) — U.S. Rep. Rick Nolan today released to following statement on the passage of the Continuing Resolution to keep the federal government funded through December 11th:
“Governing by crisis has robbed us of two wonderfully efficient and beneficial programs: the Export Import Bank and the Land and Water Conservation Fund (LWCF) – neither of which cost the taxpayer a single penny.*
Both of these programs expired today because they were not included in the Continuing Resolution, which Republican Leadership rushed to the floor as a last-ditch attempt to prevent a government shutdown of their own making, concocted by the party’s far right wing in opposition to women’s health programs. We need to stop holding the economy hostage and get back to the business of governing. The American people want Congress to put partisan politics aside and support programs like the Export Import Bank and LWCF that build the economy and support good paying jobs.
That being said, unfortunately our only choice today was between this severely-lacking Continuing Resolution and shutting down the government. We simply cannot afford another shutdown costing our economy $24 billion dollars, so I voted in favor of the Continuing Resolution – but rest assured; I will continue to fight tooth and nail to reauthorize these programs in the coming weeks and months.”
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*Background: The Export Import Bank is funded by fees placed on the companies, local bankers and all parties to export sales transactions. And those fees not only pay for all the Bank’s operations; over the past two decades, they have contributed over $7 billion dollars in profits for deficit reduction. At least a dozen companies in Minnesota’s Eighth District rely on the Export Import bank. The bank supports small and medium businesses by identifying and qualifying customers, and securing local bank financing for the production and sale of their goods to expand their exports and operations. In fact, last year alone, they were responsible for supporting 164,000 good-paying jobs in America.
The LWCF does not come from taxpayer dollars either – but rather from oil and gas companies that pay $900 million in royalties every year to drill on the Outer Continental Shelf. The money goes to the states as grants to expand access to public lands for hunting and recreation, conserve natural habitat and, in Minnesota’s case, to help create good jobs in our $10 billion dollar annual tourist industry. On September 25th, Nolan led a bipartisan drive to reauthorize LWCF. Click here to read more.
