How Do I Sign Ohio Banking Job Offer

How do i industry sign banking ohio job offer

this president I'm rising today with regard to one of the parts of the highway bill that we're talking about today and that's the export-import bank otherwise known as XM I rise today is somebody who feels strongly we need to have a long-term highway bill I'm glad I'm moving forward with that because it's about jobs and it's about crumbling infrastructure I'm also pleased with in this bill there is some regulatory reform particularly on the permitting process and I thank the authors for including my permitting reform bill but i also am pleased by the fact that we also voted to add as an amendment the reauthorization of this bank called the export-import bank and if i could let me just talk a little about why i think this is so important to ohio jobs and two jobs around this country and to keeping our economy from falling behind now some people say well why do we need the government involved in in this business of providing financing or credit to companies that do business overseas well frankly it's because often these are relatively high risk ventures so companies cannot get the credits the guarantees or the loans from private sector companies not give you a few examples this in a minute but it's also because of the fact that other countries all over the world have these export credit subsidies in fact we're pikers we have a lot less than our competitors on average our competitors do a lot more in terms of supporting their exports than we do so we need to have this in order to ensure that we don't lose jobs in this country by us unilaterally saying we're not going to help our companies to export we're shooting ourselves in the foot now if these other countries around the world were to say you know what we're going to back off on our export financing that would be great and when I was US Trade Representative back in the bush administration that's what I push for I think we should be getting rid of these subsidies and by the way also in terms of our culture subsidies and others if there was a level playing field where our competitors were not doing this it would be a different world and I will note that one thing I like about the amendment that was adopted or at least the cloture vote here in the amendment is likely to be adopted to this bill on the export-import bank is that it requires as one of the reforms and yes I think it should be reformed that the administration begin the process of an international negotiation to get rid of these export subsidies all over the world but in the meantime if we as the United States of America say you know just unilaterally we're going to stop these export subsidies through this financing mechanism we're going to lose jobs and it's not just that we're not going to create jobs it would be otherwise created by these projects it's the fact that some companies will actually move overseas to take advantage of the export subsidies in other countries and they've told me this and I'm sure they've told other senators this and senators know this so I view this really in pretty simple terms one this program actually puts money back in to the coffers every year rather than taking money out I think it added about six hundred and fifty or so billion dollars or 650 million dollars to our surplus last year so over time it has added billions of dollars so it's not costing taxpayers money it brought seven billion dollars in profits to the US Treasury since 1992 last year it generated 675 million dollars in profits and by the way created a hundred sixty four thousand jobs and 27 billion dollars in exports so one it's it's not one of these programs government programs that's costing the taxpayer to other countries are doing it and if we don't do it they'll continue to do it and we'll lose out on jobs on contracts I'm told for instance that right now while this program is in flux where you're not sure whether it's going to go forward or not because it is already technically expired there are 100 transaction sitting in the pipeline worth more than 9 billion dollars and those transactions won't go forward unless we take action so again this is one where the United States of America would be shooting itself in the foot saying we're not going to expand exports to the detriment of our workers and then third yes we ought to get busy on reforms to the export-import bank to make it more transparent I think that's good one of the reforms in here as I said earlier is to ensure that the president submits a strategy for ending government supported export subsidies internationally the Obama administration should be more aggressive at that I believe that's appropriate and they should be doing it by the way it also creates a risk management committee that will oversee the banks risked exposure it also sets up a new non-political chief ethics officer to provide oversight with regard to the ethics practices of bank employees that's all important I support all those reforms I could probably support some more too but let's not shoot ourselves in the foot and lose these good-paying jobs we've got here in this country I view it frankly a lot like the trade debate we just had what we want to do in trade is have a balance where we're sending more exports overseas trading more jobs here in this country in my state of Ohio in the presiding officer state of Indiana and other states around this country at the same time let's level that playing field by increasing our enforcement and stopping the unfair imports from other countries the dumping to subsidies in the trade bill we talked a lot about this over the last month and we actually got in place a new amendment to help companies be able to deal with unfairly treated imports to get a remedy right away and it's already working you should know sherrod Brown my colleague from Ohio and I put together an amendment it actually is part of the trade bill that was passed already already tire workers in ohio united steelworkers union employees in ohio at manoa take advantage of that because they got a positive determination from the international trade commission in part because we gave them better tools we improve the law to build a more easily show that you've been injured by these unfairly traded imports that are sold below cost or dumped or that are subsidized and that you can get the relief that is needed to avoid losing so many jobs that you go out of business so that's one thing we ought to be doing to expand exports is more trade nothing we ought to be doing is ensuring that we aren't pulling back on this export financing again that doesn't cost the taxpayers anything at a time when we are under exporting compared to what we should be doing as a country when you look at our exports per capita in the United States of America I think we're somewhere between Tonga and Ethiopia in terms of our exports per capita think about it other countries depend a lot more and trade than we do we need to export more why it creates good jobs jobs pay thirteen to fifteen percent more on average better benefits the last thing you want to do is to pull the rug out from under these exporter's by saying you're going to change the law to make it even harder to export and put American workers at a disadvantage visa V the rest of the world same thing with regard to trade policy generally let's expand exports by opening up markets for our products through good trade agreements and let's enforce the laws and increase the enforcement as we did with regard to the amendment I talked about early it makes it easier for those tire workers at cooper tire in ohio and around the country to be able to say you know what this isn't fair those Chinese tires in this case are coming in and under their costs or being subsidized and we want our government to stand up for us so that we can compete and so that we can export more of our product so i think if we were not to allow this export-import bank to continue it would be running counter to everything we just did in the trade bill we want more exports the final thing i have to say is that again if you don't allow American companies to compete globally as American workers making product here in America some of these companies are going to go overseas a lot of Marty have production overseas let's be honest a lot of these us multinational companies make things all over the world two three four continent they can shift that production overseas and then they take advantage of the export guarantees in that country and that's what some of them are told me they're likely to do if we don't have an export guarantee in this country and we don't do anything about the international situation when these other countries do it more than we do that reminds me of another topic that we ought to be taking up here on the floor the United States Senate and that's tax reform because our tax code does the same thing our tax code says to an American company you can't compete fairly you have to compete with one hand tied behind your back and it's the American workers who are hurt by this because our tax rate is so high and because of the way we tax internationally we make it an advantage to be a foreign company that's why so many US companies are becoming foreign companies last year there were twice as many transactions in dollar terms twice as many as the year before of foreign companies taking over us companies driven largely by our inefficient and out-of-date tax code so if you combine all these you can bind what's going on with trade you combine what's going on with our tax system you certainly don't want to put our workers that are further disadvantage by pulling the rug out from under them with regard to this export financing yes let's try to get the rest of the world to do the right thing but in the meantime let's not shoot ourselves in the foot on many of these projects overseas there's a de facto requirement that you have to have financing from a government all these other countries provide it and so whether you're in Africa or Asia or some of these other emerging economies what they say is where's your financing this is why as I said there about 100 projects in limbo right now let me tell you about some of the companies in Ohio the benefit from this export-import bank again this bank that actually puts money back into the conference every year and I've talked to these companies and I've talked to the workers on the line whose jobs are at stake because of what we're going to decide here in this body one is us bridge there in Cambridge Ohio they've been manufacturing and building bridges in America and around the world for 81 years quite a success story their global business depends on the financial guarantees of the export-import bank they can't compete in bidding for these projects around the world without it recently they got 100 million dollar contract to build bridges in West Africa but you know what it was immediately put in jeopardy after they got it because Congress refused to move on the Exim Bank one way or the other we just allowed it to expire without even voting on it so that's one of those projects that's currently in limbo they've got 150 employees in a very small County with high unemployment in eastern Ohio if they get this job we talked about to build bridges in West Africa they say they're can add up to 50 new manufacturing workers with this one contract that's a big deal for a family-owned company that's been a cornerstone of the eastern part of ohio in a small town of cambridge 10,000 people and ladies and gentlemen that's 50 jobs right there in a small town in an area of ohio that has high unemployment that are at stake if we don't move mine export-import bank let me tell you about macgregor metal working in springfield ohio know a lot about macgregor because their distant cousins of mine the MacGregor family my family were the McCulloch family they came to springfield from Scotland but the McGregor's run a company that's again a staple of the community their pillars in the community they've got skilled trade jobs the workers there get good pay good benefits however they're very concerned about what's going on with Exim Bank more than 60 workers at macgregor worked directly on products that depend on XM financing that's about sixteen percent of macgregor sales they're not a big company but through a really important company to that community to those workers into their family so people who have stood up on this floor over the last couple days and said this is not about jobs this is about jobs folks and this is not just about big businesses yes it's about them and that's important too we want those jobs here as well it's also about a lot of small businesses I we spoke to some of the workers at McGregor's they told me there are a lot of manufacturing issues they just can't control their health care costs what you're going up Obamacare has not helped it's made it worse you know how they're told their costs are going to go up between ten and thirty-three percent next year that's what the insurance companies have told them the price of steel goes up and down sometimes it's tough to get the skills to be able to compete and to get these jobs at a place like McGregor those are things that are out of their control but XM thing is something that they know we can control and they're wondering why we're making it even more difficult less predictable for them by not acting let me tell you bout another small business it's in Hamilton Ohio it's called K vac they employ 50 people they manufacture commercial cleaning machines used to clean floors and schools and museums stadiums airports that kind of are the modern-day mop and pail with the health of XM cave a crew it's international sales by sixty percent last year exporting their commercial cleaning machines all over the world but as we've heard repeatedly this is another company that said they can't do that in the future if they don't get this financing from Exim so what will happen to these companies won't for a lot of these smaller companies they'll just lose business and they'll lose jobs to lose the jobs they already have and they won't be able to gain the jobs we talked about today for some of the bigger companies they'll be okay they'll move overseas I'm frankly not worried about the company's I'm worried about the workers in Ohio American workers who working hard playing by the rules doing all the right things and we're going to pull the rug out from under them that doesn't make any sense to me we need to stand up for these American workers whether it's with regard to trade whether it's regard to taxes as we talked about earlier Washington is letting them down we're not doing the basic things we ought to be doing to create the environment for success to allow them to be able to compete and to win today we've got the opportunity to stand with America workers we've got the opportunity to move forward yes with regard to trade knocking down barriers to our exports making sure there's a more level playing field including that amendment we talked about earlier that allows us now to bring trade cases and get results and help American workers we've got to be sure that we do reform this tax coaches if we don't more American companies and investments are going to go overseas that's our job we're letting the American worker down right now I see senator Schumer's here on the floor Senator Schumer has been working on this international tax reform issue and his point is a very simple one we went the jobs and investment here we're tired of seeing companies get taken over by foreign companies and move their jobs to those other countries we saw this recently a pharmaceutical company got bought by a foreign entity by the way the foreign company had just left America they had inverted to another country they then came back and started buying American companies one third of the workforce one third of the workforce of that company that was bought by the foreign company is now gone Raleigh North Carolina to Canada so these are things we can do within our control here in this body for us to pass these kinds of bills in with regard to XM to ensure that we are not shooting ourselves in the foot and shooting American workers at the foot by taking away their opportunity to yes win thes bids to win these competitions to build that bridge in West Africa to send those cleaning supplies all over the world to be able to ensure with regard to McGregor industries that the parts that they put into those locomotive engines that get sent to develop countries and developing countries can continue to go our job here is not to make life harder for these workers and these small companies it's to make it easier for them to compete in to win so that we can begin to bring back not just more jobs but better jobs over the last six years we've seen wages flatten out and on average go down economists tell me it's about a six percent reduction in real wages think about at at a time when health care costs are up in part thanks to Obamacare which makes it harder not easier to get health care at a reasonable cost education costs are up electricity costs are going up in part because of the regulations that the Obama administration is putting on the economy in my home state of Ohio and around the country that's called the middle class squeeze wage is flat and declining expenses going up that's what the people I represent or experiencing let's not make it more difficult for them let's stand up for American workers yes let's tell the Obama administration as this legislation does you're required to put more pressure on the international community other countries to reduce their export subsidies their guarantees their credit agencies but in the meantime let's be sure we're standing up for the people we represent and doing the right thing for the American worker that