Larsen Will Vote To Reopen Job-Creating Export-Import Bank ASAP

Nov 4, 2015 Issues: Jobs Labor and the Economy

WASHINGTON, D.C.—Rep. Rick Larsen, WA-02, today continued his efforts to renew the job-creating Export-Import Bank by pledging to vote against amendments that would hurt the Bank’s reauthorization chances. The U.S. House of Representatives this week is debating a long-term surface transportation bill, which includes the recently passed bill to reauthorize the Export-Import Bank.

“I have evaluated amendments to the Export-Import Bank renewal that is before the House this week, and I will vote against them. The House should maintain the integrity of the Export-Import Bank renewal that we already passed. The amendments the House is considering would only hold up the unacceptably long road to renewal the Bank has already faced.

“The Export-Import Bank is a proven job-creating success story. The Bank helps Pacific Northwest businesses of all sizes create jobs here at home by selling their goods overseas. Thousands of workers in Northwest Washington and across the country are counting on Congress to do the right thing and get the Export-Import Bank reauthorized. While Congress never should have allowed the Export-Import Bank to expire in the first place, we can keep America open for business by getting the job done now.

“I have heard from hundreds of constituents and workers, including the International Association of Machinists and Aerospace Workers, about their support for reauthorizing the Export-Import Bank. I agree that we cannot lose any more of the economic opportunities than we already have because of the Bank’s expiration four months ago. By voting against amendments to the Export-Import Bank renewal, I am pushing to get the Bank back open for business as soon as possible,” Larsen said.

The Bank expired on June 30, halting all new export financing for U.S. businesses of all sizes. Larsen helped introduce a bill to reauthorize the Bank earlier this year. He also led efforts to renew the Bank in 2012. The House passed a bill to reauthorize the Bank on October 27.

In Washington’s second Congressional district, the Export-Import Bank has supported more than $77 billion in exports since 2007. These exports have come from 18 companies, including 11 small businesses like Vista Clara Inc. Nearly 90 percent of the Bank’s transactions support small businesses. And because nearly 60 other countries have export credit agencies, the Export-Import Bank helps level the playing field for U.S. businesses.

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