Following an announcement of several hundred layoffs planned at Boeing’s satellite factory in southern California, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, underscored the very real impact the Export-Import Bank’s shut down is having on American workers.

The layoffs add to the growing number of jobs at risk as a result of the export credit agency’s inability to generate and negotiate new deals on behalf of American exporters. Further, the announced layoffs raise new questions about the private sector’s ability to step in with the same level of support for export businesses.

She issued the following statement.

“For months, Congressional Democrats have warned that Republican efforts to shut down the Export-Import Bank would have serious negative consequences for U.S businesses, workers, and the American economy. With Boeing’s recently announced plans to lay off several hundred people from its satellite factory in South Bay, the ongoing debate in Washington about the future of the Bank is beginning to touch the lives of hard-working Americans. It is unconscionable that Republican short-sightedness and animus against government will cause people in and near my district to lose their jobs.

When Congress reconvenes in September, I will continue to fight to restore the Ex-Im Bank to ensure that companies looking to compete in the global marketplace will have the support they need to build their businesses and to create and support jobs for American workers.”

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