06.08.15

Senators Cantwell, Shaheen, and Ayotte Call for Reauthorization of Export-Import Bank

(HOOKSETT, NH) – Senators Jeanne Shaheen (D-NH) and Kelly Ayotte (R-NH) were joined by their colleague Senator Maria Cantwell (D-WA) as they met with New Hampshire businesses at GE Aviation in Hooksett, NH to discuss the impact of failing to reauthorize the Export-Import bank. The Export-Import Bank is set to expire on June 30th unless Congress acts.  

“Exports are critical to New Hampshire’s economy and the Export-Import Bank has a proven record of helping New Hampshire businesses and creating jobs,” said Senator Shaheen. “We can’t let ideology and gridlock in Congress trump the needs of hard-working Granite Staters.”

“U.S. businesses use Ex-IM Bank each year to help compete for the 95 percent of the world’s customers that are outside the United States.  With a majority of members in Congress supporting reauthorization of the bank, it’s time for this legislation to be voted on in Senate and House before Ex-IM’s charter expires on June 30th,” said Senator Cantwell. “American jobs are at risk and deals for U.S. companies are on the line. Washington and New Hampshire businesses lead the way on growing manufacturing jobs through exports.”

"I appreciated the opportunity to meet with representatives from GE Aviation and local suppliers to discuss the importance of renewing the Export-Import Bank, which helps New Hampshire businesses compete in the global marketplace and create jobs," said Senator Ayotte. "I’ve helped introduce bipartisan legislation that would renew the bank’s charter, and I’ll continue to work across the aisle to reauthorize Ex-Im so that New Hampshire exporters continue to have access to financing that helps them sell their goods and services overseas and create more jobs." 

The Export-Import Bank, created in 1934, provides loans to U.S. exporters. Since 2007, the Export-Import Bank has supported at least 36 exporters, 25 small businesses, and 2,395 jobs in New Hampshire. In 2014 alone, the bank supported $29.2 million in New Hampshire exports, 60% of which from small businesses.

Senator Shaheen introduced legislation in the Senate to reauthorize the Export-Import Bank through 2022, while increasing the bank’s lending cap and number of loans to small businesses. Senator Cantwell has been a leader in the fight to reauthorize the Export-Import Bank and supports the long term reauthorization of the export credit agency that maintains American competitiveness abroad. Senator Ayotte helped introduce bipartisan legislation to reauthorize the Export-Import Bank through 2019, increase small business lending, support jobs, and minimize risk to taxpayers by enhancing bank oversight.

 

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