Sensenbrenner Commends Ex-Im Bank Reversal on India Power Plant
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Category: Government CommitteesType: News
Source: U.S. House Committee on Energy Independence and Global Warming
Party: Republican
Date: Wednesday, June 30th, 2010
Washington, D.C. -Rep. Jim Sensenbrenner, R-Wis., ranking Republican on the House Select Committee on Energy Independence and Global Warming issued the following statement on the U.S. Export-Import Bank's reversal in policy that awards nearly $600 million in loan guarantees to an Indian power plant and mining plan that will contract South Milwaukee's Bucyrus International Incorporated to manufacture equipment:
"I'm glad that the U.S. Export-Import Bank reversed its decision and extended loan guarantees to Bucyrus International, Incorporated This will create hundreds of sorely needed jobs for Milwaukee residents. But we shouldn't let the reversal obscure the bad policy that led to it. If President Obama continues to push a job-killing cap-and-tax agenda, job losses will be a thousand times worse. The National Association of Manufacturers predicted that cap-and-tax would cost the economy in excess of one million manufacturing jobs over the next 2 decades.
"I applaud the bank for reversing its decision, but the President needs to go further and renounce the cap-and-tax policies he's pushing. Instead, we should promote policies that put jobs and the environment on equal footing."
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