Congresswoman Duckworth: Irresponsible for Congress to Recess without Long Term Ex-Im Bank Reauthorization

Washington, DC—(ENEWPSF)—June 29, 2015. Today, Congresswoman Tammy Duckworth (IL-08) called on Congress to extend the charter of the Export-Import Bank before it expires on June 30th. The bank supported $27.4 billion in U.S. exports and 164,000 jobs in 2014. 90% of the Ex-Im Bank’s transactions directly supported small businesses at no cost to tax payers. If the bank’s charter expires at the end of June it will not be able to provide new loans and insurance to American businesses. 

“The Export-Import Bank supported more than 40 businesses and over 1,700 jobs in my Congressional district over the last 6 years,” said Duckworth. “It’s one of the reasons why Illinois is the 5th largest exporting state in the country. Members on both sides of the aisle understand the importance of investing in American manufacturing and we should work together to immediately extend the Bank’s charter.”

“It is irresponsible for Congress to leave for 4th of July recess without addressing this crucial issue. Our constituents expect us to do everything in our power to support programs that assist working families and create jobs. They cannot possibly understand how we could let a program that supports 164,000 jobs at no taxpayer expense expire. The majority needs to bring reauthorization of the Ex-Im Bank to a vote and provide America’s businesses with the certainty it needs.”

Information on BLS enterprises, just one of the 8th District manufacturers that rely on the Export-Import Bank, can be found here

Source: duckworth.house.gov