[ti:Congress Debates US Export-Import Bank] [ar:Mario Ritter] [al:Economics Report] [by:www.51voa.com] [00:00.00]From VOA Learning English, this is the Economics Report. [00:05.36]A policy dispute is taking shape in Washington [00:09.78]over a government agency that helps exporters. [00:13.79]On one side is the American business community. [00:18.73]On the other side are conservative Republican Party lawmakers. [00:23.60]Unless Congress takes action, [00:26.68]the Export-Import Bank of the United States [00:30.20]could be forced to stop accepting new customers at the end of June. [00:35.70]W.S. Darley and Company is a 108-year-old family business. [00:42.74]It makes fire trucks in the United States, [00:46.45]and sells them all over the world. [00:49.30]The Export-Import Bank provides loans [00:53.56]or other assistance to buyers of U.S. products. [00:58.20]Peter Darley is Darley's Chief Executive Officer. [01:03.06]"They (the customers) can spread their payments out [01:05.91]over a period of time, makes it more affordable." [01:09.16]Business leaders and officials say [01:12.45]small companies making products from pickles [01:16.12]to ice cream have received help from the Export-Import Bank. [01:21.33]The bank's supporters recently met in Washington. [01:26.28]They say U.S. exports would slow without help from the government agency. [01:33.83]And that, they say, would hurt economic growth. [01:38.76]The Export-Import Bank also provides help to big companies. [01:44.96]The aircraft maker Boeing receives help from the bank. [01:49.40]Boeing says it would have to move some of its manufacturing jobs [01:55.26]overseas without the help it receives. [01:58.82]But Delta Airlines has a different opinion about the government agency. [02:05.37]Delta says the bank has helped foreign customers [02:10.27]buy airplanes from Boeing at a lower cost than it can. [02:14.99]The airline company says that hurts its profits and U.S. aviation jobs. [02:22.86]Delta's concerns are one reason for planned hearings next month in the U.S. Senate. [02:30.16]This week, the House of Representatives' Financial Services Committee held hearings. [02:37.82]Texas Congressman Jeb Hensarling is a Republican [02:42.57]and chairman of the committee. [02:45.12]Before the hearing, [02:47.13]he said big companies get the majority of the bank's assistance. [02:52.12]"The smarter and fairer way to promote American exports [02:56.72]is by fundamental tax reform, strong trade agreements, [03:00.28]a regulatory freeze with the exception of health and safety, [03:04.46]and greater American energy independence [03:07.11]with projects like the keystone pipeline." [03:10.06]But supporters argue that the Export-Import Bank [03:14.49]provides important help [03:16.23]when competing with government-supported foreign companies. [03:20.54]The head of the bank, Fred Hochberg, [03:24.34]says his agency helps both large and small U.S. businesses. [03:29.12]"Companies come to us and say we either have to meet the competition, [03:33.42]because foreign governments are supporting our competitors, [03:35.96]or we are selling in a market [03:38.41]where conventional financing is simply not available." [03:41.66]Fred Hochberg says he is hopeful the Export-Import Bank will survive. [03:47.67]He notes that 60 nations, including China and India, [03:52.79]have similar agencies to support their exports. [03:56.95]And that's the VOA Learning English Economics Report. [04:02.61]I'm Mario Ritter. [04:04.69]¸ü¶àÌýÁ¦Çë·ÃÎÊ51voa.com