Heck introduces Ex-Im Bank reauthorization
June 24, 2014 | 08:11 PM
Rep. Denny Heck, D-Wash., today introduced a bill to reauthorize the Export-Import Bank, whose charter expires on September 30.
House Financial Services Committee Chairman Jeb Hensarling, R-Texas, has said he believes the bank should die because the private sector can perform its tasks, but supporters of the bank say many manufacturing businesses, including those in rural areas, could not export to some countries without it.
The National Association of Manufacturers praised the introduction of the bill.
“Today's introduction of an Ex-Im reauthorization by Rep. Denny Heck is an important and welcome step in ensuring that manufacturers will have the tools they need to compete in a tough global economy," said Linda Dempsey, vice president for international economic affairs at the organization.
“Operating at zero cost to the taxpayers, Ex-Im Bank fills a much-needed gap in export credit financing in the United States — one which private banks have not and cannot fill,” Dempsey said.
“With some 59 export credit agencies operating globally, Ex-Im Bank is a vital tool to make sure that thousands of small business and other manufacturers can win sales overseas, enabling America to grow its manufacturing base. We hope this legislation will spur Members of Congress on both sides of the aisle to work together to reauthorize Ex-Im Bank and grow American jobs.”
House Financial Services Committee Chairman Jeb Hensarling, R-Texas, has said he believes the bank should die because the private sector can perform its tasks, but supporters of the bank say many manufacturing businesses, including those in rural areas, could not export to some countries without it.
The National Association of Manufacturers praised the introduction of the bill.
“Today's introduction of an Ex-Im reauthorization by Rep. Denny Heck is an important and welcome step in ensuring that manufacturers will have the tools they need to compete in a tough global economy," said Linda Dempsey, vice president for international economic affairs at the organization.
“Operating at zero cost to the taxpayers, Ex-Im Bank fills a much-needed gap in export credit financing in the United States — one which private banks have not and cannot fill,” Dempsey said.
“With some 59 export credit agencies operating globally, Ex-Im Bank is a vital tool to make sure that thousands of small business and other manufacturers can win sales overseas, enabling America to grow its manufacturing base. We hope this legislation will spur Members of Congress on both sides of the aisle to work together to reauthorize Ex-Im Bank and grow American jobs.”
