Rep. Rick Larsen, WA-02, today slammed House Republicans for their inaction on the Export-Import Bank, putting thousands of jobs at risk. The Bank’s charter expires today.

The Export-Import Bank gives Pacific Northwest businesses of all sizes access to critical financing to sell their goods overseas, and it has supported more than $71 billion in exports from the Second Congressional District since 2007. In 2012 and 2013, the bank returned $1.1 billion to the U.S. Treasury.

“Helping our businesses sell their goods overseas creates jobs here at home. Yet Republicans’ refusal to allow a vote to renew the Export-Import Bank puts jobs at risk in Northwest Washington and across the country. Without the Bank, hundreds of small businesses around the country will not have the financing they need to get their products into the hands of consumers worldwide.

“Allowing the Bank to expire will hurt U.S. competitiveness. With about 60 other export credit agencies backing foreign competitors, the Export-Import Bank levels the international playing field for U.S. exporters and workers. Without it, our manufacturers of all sizes are at a serious disadvantage.

“If we want a healthy economy, our country cannot afford to lose the jobs and growth the Export-Import Bank creates. I call on my colleagues to stop obstructing progress for the middle class and reauthorize the Export-Import Bank,” Larsen said.

Larsen helped introduce a bill to reauthorize the Bank earlier this year, and he signed a petition with other House members to force a vote on the bill.

The Bank will continue servicing existing loans after its charter expires, but it cannot issue new financing.

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