ms. cantwell: mr. president? the presiding officer: the senator from washington. ms. cantwell: i suggest we dispense with the calling of the quorum. the presiding officer: without objection. ms. cantwell: thank you. i'd like to rise to address the vitter amendment numbered 2103. in speaking in opposition to that amendment, as i said, like all these amendments up for us to vote on today i believe are detrimental to not only the export-import financing program but to the compromise worked out by the republicans and democrats in the house of representatives and the legislation that is being supported by the chamber of commerce, u.s. manufacturers, bipartisan list of governors, and many businesses across america. the reason why the vitter amendment i think is a horrible idea actually is that the amendment would basically cut or curtail american companies and their ability to compete on energy projects on a worldwide basis. that is, it would eliminate the bank's current 10% ghoal for renewable energy projec

ms. cantwell: mr. president? the presiding officer: the snoer from washington. ms. cantwell: thank you, mr. president. i appreciate my colleague from south carolina coming down to talk about this important tool for u.s. manufacturers ans why it i--and why it is important is state and why we need to get on the impis of passing this house legislation that was a compromise and involved many people. and as my colleague from south carolina stated, a very robust vote out of the u.s. house of representatives. i'd also like to say a few words about my colleague's amendment, senator corker. i'll trust wit what my colleague says from south carolina, that the amendment may be seen as a reform of the system, well-intended. but i can tell you it will have very, very adverse affects. -- effects. the corke corker amendment is cg for a 10% ratio. the bank has had a default rate of less than 2%, 1. ^ 5%. so raising the reserve ratio would have a very adverse effect on the bank itself. and it would quadruple the reserves and basically cause problems with the bank in how it is leverage

ms. cantwell: thank you, mr. president. i rise to speak on the motion to proceed to the passage of the export-import bank legislation that has come over from the house and passed the house with a vote of 330-93, so a pretty resounding vote in favor of moving forward on the ex-im bank, the export-import bank, that is a major tool to financing manufacturing in the united states when they have products to be sold around the globe. we hear the president talk all the time about the fact that we need to increase our exports. well, this is a very important tool that has existed for decades in helping businesses across our country produce product and get sales into overseas markets. so the fact that this legislation passed the house, again, with an overwhelming positive vote -- and i should point out to my colleagues here in the senate, without amendment. it was not amended on the floor. that is, that my colleagues on the house side, both republicans and democrat, worked out such a positive proposal that it went to the house floor

ms. cantwell: i appreciate the majority leader's actions on trying to move us forward on a very important jobs bill. the export-import bank is a way to fund manufacturers in the united states so that their products can be sold around the globe. it's kind of like a small business administration finance program for exports. we know the president has said we need to increase exports, and this is a program that has been in place for decades. never controversial at this degree and now all of a sudden here we are weeks before the authorization expires, sitting here arguing over whether we can move forward on this bill. i have great respect for the united states senate, but there are sometimes when the united states senate doesn't get to work out a deal and we are presented with something that has been worked out by the house of representatives. now, we can go back to what the majority leader said, how we got in this spot, and that is objecting to every motion to proceed, objecting to every motion to proceed, objecting to every motion to proceed. pretty soon, all the work stacks up. we try to mo