CONGRESSMAN TED LIEU STATEMENT ON BOEING LAYOFFS & URGENT NEED TO REAUTHORIZE U.S. EXPORT-IMPORT BANK

August 25, 2015
Press Release

FOR IMMEDIATE RELEASE: August 25, 2015               
CONTACT: Jack d’Annibale | jack.dannibale@mail.house.gov | 202-225-3976

Los Angeles - Today, Congressman Ted W. Lieu (D | Los Angeles) issued the following statement following the news that The Boeing Company is laying off workers at its El Segundo facility.  Boeing is reducing employment in its satellite manufacturing businesses through the remainder of 2015. 

“Today’s news regarding Boeing layoffs in El Segundo is disappointing and frustrating.  My heart goes out to the honest, hardworking families who will be affected.  Last month, Boeing announced that AsiaBroadcast was terminating a satellite contract with the company because they couldn't get a financing backstop from the U.S. Export-Import Bank.  This work would have been done in El Segundo, with a value of approximately $130 million.  Today’s announcement of layoffs at Boeing in El Segundo underscores how House Republicans’ decision to shut down the Export-Import Bank is a complete and utter abrogation of their responsibility to act on behalf of the American people.  The shutdown of the bank is having devastating impacts on California’s 33rd district, as well as communities from coast to coast.

“Hardworking Americans at Boeing’s El Segundo facility, at plants and companies across our nation, deserve much, much better than to have their livelihoods jeopardized by the most cynical kind of partisan politics practiced by Tea Party Republicans.   My fellow House Democrats and I will continue to fight for an urgent re-authorization of the Export-Import Bank and for additional bold, progressive economic solutions that protect and expand the backbone of the American economy – the middle-class.”

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