export-import bank. toss with the bank does. guest: thank you for having me on the show. the export-import bank of the united states helps create more jobs. exports are heavily more risky. harder to get financing. harder to collect on an obligation or a receivable. the idea was, let's create a bank that is backed by the government to increase our reach around the world and therefore create jobs. host: who do you work with? and by manufacture a project -- a product in michigan, can i use you? guest: yes. when president obama announced the initiative two years ago, it was to pull together all the agencies. if you have a product in michigan -- i was just in detroit last tuesday. they would help you find a buyer. we are the buyers. what countries in the world and where would you sell that product. when we come in, how do finance the product once to make that sale? host: export-import bank offered loans -- authorized $32 billion in loans and guarantees last year. that is a 34% increase. $16 billion in exports to nine markets. that is a 186% increase. how are you going about that? guest: the president said let's double i

export-import bank to use. remember, the export-import bank uses money at extremely loan-risk loans to support tens of thousands of jobs in the united states. why are we working on this kind of -- why aren't we working on this kind of jobs legislation? well, it's because the president asked for it. they are so determined, mr. speaker, to prevent the president from being re-elected they won't do what's good for american business and what's good for american workers. this is not -- this is not partisan. these small companies are all over our districts. they want to make loans. they want to make sales overseas. they need the help of this bank and the republican leadership sits -- i don't know where they are. somewhere in a darkroom. somebody should turn on the light and tell them there is stuff that should be done and get out here and pass a real bill, not this jobs cockamamie thing we are going to do to pass stuff we have already passed. i yield back the balance of my time. the speaker pro tempore: the chair recognizes the gentlelady from texas, ms. jackson lee, for five minutes. ms. jackson lee: i thank the speaker. this is a month that we

movement that will create opportunity all over the united states and for companies in my home state of delaware. first, if i can, the export-import bank has long established its record of promoting exports and job growth. it has provided capital to help manufacturers and small businesses all over the company export more american-made goods. the reauthorization measure we take up hopefully later today has passed unanimously out of the senate banking committee and has already enjoyed broad, bipartisan support. last year financing from the ex-im bank supported hundreds of jobs in my home state and thousands more across the country. the bank supported dozens of companies across delaware. one has a proprietary selectiv selectively proprietary membrane. one company that creates high-quality jobs in our communities and is able to sell these products through ex-im bank financing. and equally importantly, the ex-im bank hasn't added a single cent to the deficit. it works to give a fair shot in the global market. if american workers are going to be competitive, we have to ensure they have the support they need. otherwise they'll continue to los

authorizing the -- reauthorizing the export-import bank would not only be a short-term victory for our exporters, it would also tell our trading partners that the united states is a stable place to do business and that we stand behind our products and our companies. so i urge a yes vote on that amendment when it comes to the floor later today. thank you, mr. president. i yield the floor and i suggest the absence of a quorum. the presiding officer: the clerk will call the roll. quorum call: a senator: mr. president. the presiding officer: the senator from rhode island. mr. reed: mr. president, inquiry, is there a quorum in place? the presiding officer: we're in a quorum call, sir. mr. reed: i would ask unanimous consent to dispense with the quorum. the presiding officer: without objection. mr. reed: mr. president, i rise again today to discuss h.r. 3606, the so-called jobs act. as chair of the subcommittee on securities, insurance and investment, i want all of my colleagues to know that this legislation as it is currently drafted is fundamentally flawed. we need to stop, slow down, carefully amend this legislation and send something to the president that will

but new a congressional showdown is looming for funding over the united states export-import bank, and that might put american jobs in danger. wyatt andrews takes a look. >> one of the bright sparks in the economy of northwest texas. is the demand for american-made crop dusters, orders are literally taking off here at the air tracker corporation in olney, texas. 44 custom-made planes are in production for export to farmers in south america. >> we export airplanes all over the world, and those exports create jobs in olney, texas. >> but despite the jobs and the rush of orders, air traffic officials are worried about washington. >> we are at risk because of what's going on in congress. >> at risk because of a quiet debate in congress over this, the refunding of the united states' export-import bank. exim, as it's called, is a taxpayer-financed bank that makes loan to foreign buyers of american products. without new funds, the bank could stop lending at the end of the month, which would stop the sale of the crop dusters. >> it impacts us. it impacts olney, texas. >> normally the exim bank

export-import bank, this transaction would not have come to life. that's how the export-import bank can help companies my state and companies all around the united states. i have to say there will be an amendment offered this afternoon, the merkley, scott brown amendment. it would raise up to $1 million through crowdfunding web sites but put in protections for investors. the amendment would require all crowdfunding web sites to register with the s.e.c. that's a step in the right direction. it is one of the most important elements that needs to be changed in this bill, out of about eight elements. it's the only one we're likely to address this afternoon. i also urge my colleagues to support the amendment by senator jack reed of rhode island requiring the s.e.c. to revise the definition of "holder of record." i will tell you that the financial industry has been working overtime to beat this amendment. they have been on the phones calling everybody saying, stop the reed amendment. according to a professor at colombia law school, the shareholder of record concept is archaic and it can be gamed. state securities regulators also share that same concern. the