hochberg. i appreciate that. also, i assume that since we have a witness from gao here, you are familiar with their may 2013 report that criticized the bank for concealing methodilogical weaknesses in the job's claim in that you do not distinguish between full-time, part-time and seasonal employment. you do not control for selection effects between supported firms and injuries -- industries that may depart from the average. gao criticized the bank for not seeing the unseen counterfactual how many jobs would have existed without any intervention at all. are you familiar with gao's work regarding your jobs claim? >> yes. and we point out a number of weaknesses with the methodology and recommended that xm do more to disclose the weaknesses with the methodology and since they have done so. >> thank you. >> i've seen a report there are roughly 10,000 federal agencies, programs, frankly i've been here for a number of years, i still can't figure out how many there are. but how many are subject to fcra

hochberg. i appreciate that. also, i assume that since we have a witness from gao here, you are familiar with their may 2013 report that criticized the bank for concealing methodilogical weaknesses in the job's claim in that you do not distinguish between full-time, part-time and seasonal employment. you do not control for selection effects between supported firms and injuries -- industries that may depart from the average. gao criticized the bank for not seeing the unseen counterfactual how many jobs would have existed without any intervention at all. are you familiar with gao's work regarding your jobs claim? >> yes. and we point out a number of weaknesses with the methodology and recommended that xm do more to disclose the weaknesses with the methodology and since they have done so. >> thank you. >> i've seen a report there are roughly 10,000 federal agencies, programs, frankly i've been here for a number of years, i still can't figure out how many there are. but how many are subject to fcra

hochberg was interviewed by the chronicle and gave his commentary. the chronicle goes on to indicate, large other small, export/import bank loans support american jobs, including jobs in the houston area. bank officials told the chronicle that its financing has supported $11 billion in export sales from the area since 2009. with 3.5 billion of that attributable to small businesses. the bank also cost taxpayers nothing. it supports itself through the fees and interest it charges and regularly sends money to the u.s. treasury to reduce the debt. this is from "the houston chronicle." i concur with the ranks member with reference to there being persons of note who are not here to testify today. and if they were here to testify i believe they would say, some of them, what the greater houston partnership says. the greater houston partnership indicates, and this is an excerpt, small and medium-sized businesses in our region also benefit directly from export/import. small businesses account for nearly 85% of xm banks transactions. further, these transactions

hochberg, there's a l. today aroundhere pursuedorms should be with respect to the funding or of wide body aircraft. at no point during the many today did ie here actually hear a specific proposal from delta airlines, what i wasthought interpreting was let's just prohibit them. if e were to do that, what in your opinion would happen in the market place? >> well, my concern would be weess it's multilateral, would be unilaterally disarming and putting the sale of boeing the thousands upon thousands of jobs that are jennered from that manufacturer risk. it's as though the honda dealer didrs few financing and toyota dealer says cash only, there will be a tilt towards vendor that provides financing. so if congress were to prohibit it would financing open up that market to airbus, and the competition would still u.s. carriers because the only difference would be foreign carrier would be flying more airbus planes. i in the last two minutes have i'm going to ask you to stop, breathe, and then paint a picture. lots o

hochberg met with my office. later when he testifies i'm going to show you my letter to him and his response which was a nonresponse. we've always got that. members also expressed to me great concern on the australian loan. but there were members on both sides. i wrote chairman hochberg about that on behalf of several members on august the 2nd. we then inquired about the status of our letter. and we were told they were going to respond. december the 20th, i woke up to read in "the wall street journal" that the loan had been approved. after my august letter. no response. finally, on february the 19th, my office two months after the loan was approved and announced, an iron ore industry, the miners, all sorts of groups expressing concern, he wrote me back and said we approved it. in my letter i asked them to get with us and we wanted -- there was no detailed analysis of the financing request and how it would affect u.s. jobs. and i asked him to share that information with me. even -- i know mr. hochberg is here, i l

hochberg met with my office. later when he testifies i'm going to show you my letter to him and his response which was a nonresponse. we've always got that. members also expressed to me great concern on the australian loan. but there were members on both sides. i wrote chairman hochberg about that on behalf of several members on august the 2nd. we then inquired about the status of our letter. and we were told they were going to respond. december the 20th, i woke up to read in "the wall street journal" that the loan had been approved. after my august letter. no response. finally, on february the 19th, my office two months after the loan was approved and announced, an iron ore industry, the miners, all sorts of groups expressing concern, he wrote me back and said we approved it. in my letter i asked them to get with us and we wanted -- there was no detailed analysis of the financing request and how it would affect u.s. jobs. and i asked him to share that information with me. even -- i know mr. hochberg is here, i l

chairman hochberg good to see you. thank you for your stead past promotion of american jobs and american manufacturing in our country. as a small business owner, i understand that one of the most important things those small businesses need is access to capitol and financing. last year alone ex-port and impart bank financing supported over 200,000 jobs 90% supported small unilaterally disarms the export financing world and allows xm to lapse, what kind of economic impact could it have on american manufacturing, on our job creators, our exporters, selling goods that are stamped proudly made in america all around the world? so many of which have relied on this export, import bank? >> well on the first panel there was specific testimony about how the threat of it not being here in september has already impacted the awarding of a 57 h million contract that would support a lot of jobs. the smaller transaction of $48 million supported 165 jobs. it would obviously be more. it's an even larger transaction. we heard small busin

last year fred hochberg visited my district. from fiscal year '07 to '14 the agency supported $176 million in exports from companies in my district. one of those companies, maritek, inc., was reluctant to sell semi-conductor equipment to examiners in asia. they were concerned once the equipment left their building there was no guarantee they'd be paid. the bank issued an insurance policy so maritek could have sales and guarantee they get paid. thanks to the bank they now export to companies in asia, europe and the americas. allowing the bank's current charter to expire would threaten the competitiveness of these and many other arizona businesses. that's why i'm a co-sponsor of legislation to extend the bank's authorization and will continue to work to reauthorize this important investment in american jobs. >> chair recognizes the gentleman from georgia, mr. westmoreland, for one minute. >> thank you, mr. chairman. the problem with the export-import bank is the entire mission and structure. simply, the export-import bank is desig

hochberg who knows a lot more than i do. >> thank you congressman. first i want to thank mr. wilburn and captain moak for their service. it's deeply appreciated. mr. wilburn, i'm interested, as a small business person out there trying to build something for his family and his employees, kind of one day at a time. one contract at a time. whether or not you would be surprised that the company to your right which has claimed such material damage, and is represented by its own spokespeople is now the most profitable airline in the united states. and arguably the world, indeed, made $2.7 billion in profits last year. which i'm grateful for. i think that's a good thing. i'm really glad. i'm not asking the question of you, mr. anderson. would it surprise you that the company has paid no federal income taxes for the last six years and is projected not for the next three years? >> are you talking -- >> mr. chairman, it's my time. not mr. anderson's? would it surprise you, mr. wilburn? >> i don't know if i'm surprised. i can't characterize it as surprise. it's new information to me. i