Post by bot on Sept 5, 2014 18:57:28 GMT -5
Hoyer: Export-Import Bank Needs Long-Term Reauthorization to End Uncertainty,
Grow Economy
WASHINGTON, DC – House Democratic Whip Steny H. Hoyer (MD) released the following statement today in response to indications that House Republicans will pursue a short-term bill to reauthorize the Export-Import Bank:
“The Export-Import Bank is one of the most important tools we have for helping American small businesses access foreign markets, and Congress must not allow its authorization to expire on September 30 and place over 200,000 export-dependent jobs in danger. House Republicans have refused for months to commit to bringing an extension of the Bank’s charter to the House Floor. Now there are indications that they may put forward a short-term bill instead of working with Democrats on a multi-year reauthorization that would provide greater certainty to businesses looking to sell their products overseas and invest in new lines of production here at home. We need a long-term reauthorization that ends the uncertainty that is now holding back investment that could help grow our economy.
“When we boost our exports, the result is growth for the private sector and the creation of jobs that pay well and open doors of opportunity. That’s why extending the Ex-Im Bank’s charter has been included in the Make It In America plan and why Financial Service Committee Ranking Member Maxine Waters, Rep. Denny Heck and other House Democrats have been working tirelessly to advance a bill that would extend the bank’s charter for seven years. More than forty House Republicans have signed a letter calling on their own leadership to move forward with a multi-year reauthorization. Democrats are ready to work across the aisle to achieve that goal. Speaker Boehner and Majority Leader McCarthy should bring a long-term reauthorization bill to the Floor when the House returns to session. There’s little doubt that the majority of the House would support a long-term reauthorization.”
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