Washington, D.C., December, 2019.-Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed issued the following statement regarding the announcement of tomorrow’s expected vote on legislation that would provide a historic seven-year reauthorization of the agency.
“Thanks to President Donald J. Trump’s leadership, and hard work by his administration and members of the U.S. Congress, congressional leaders unveiled legislation today that would provide a historic seven-year reauthorization of EXIM. A vote is expected tomorrow by the House of Representatives.
“This legislation ensures EXIM’s authority to support jobs and keep America strong through exports for a long time to come. President Trump and Congress want to empower American businesses and workers to compete and win globally. This long-term reauthorization heralds a new era for EXIM. I am particularly grateful for the hard work of Senate Banking Committee Chairman Mike Crapo (R-ID) and Ranking Member Sherrod Brown (D-OH), and House Financial Services Committee Chairwoman Maxine Waters (D-CA) and Ranking Member Patrick McHenry (R-NC), as well as House and Senate leadership, in moving forward a robust, bipartisan bill.
“This seven-year reauthorization, the longest ever in EXIM history, will enable EXIM to help keep America strong and support American jobs through U.S. exports.
“With Tuesday’s planned vote, EXIM is one step closer to fulfilling its mission to grow American jobs and support our nation’s great companies as they export ‘Made in the USA’ products around the world.”
ABOUT EXIM BANK:
EXIM is an independent federal agency that promotes and supports American jobs by providing competitive and necessary export credit to overseas purchasers of U.S. goods and services. A robust EXIM can level the global playing field for U.S. exporters when they compete against foreign companies that receive support from their governments. EXIM also contributes to U.S. economic growth by helping to create and sustain hundreds of thousands of jobs in exporting businesses and their supply chains across the United States. In recent years, 90 percent of the total number of the agency’s authorizations has directly supported small businesses.