Hoyer: Congress Should Reauthorize the Export-Import Bank Without Delay

For Immediate Release:

April 24, 2014

Contact:

Stephanie Young, 202-225-3130

WASHINGTON, DC - House Democratic Whip Steny H. Hoyer (MD) released the following statement after the Export–Import Bank sent proposed reauthorization legislation to Congress calling for a five year extension and an increase in the Bank’s exposure limit:

"The Export-Import Bank plays a crucial role in helping American businesses - especially small businesses - access new markets and compete overseas, and Congress should reauthorize it without delay.  This proposal is a good starting point as we work to provide much-needed certainty to our nation's exporters.

"I joined House Financial Services Committee Ranking Member Maxine Waters and Rep. Denny Heck earlier this month to announce that the goal of reauthorizing the Export-Import Bank has been added to the House Democrats' Make It In America plan for jobs and competitiveness.  I want to thank both of them – and Monetary Policy and Trade Subcommittee Ranking Member William Lacy Clay – for helping to move this issue to the forefront and for highlighting the benefits to American businesses, workers, and taxpayers that come from our investment in the Export-Import Bank. 

"Congress must put this matter to rest as soon as possible by reaffirming its support for the Bank's mission and passing a multi-year reauthorization that can restore certainty to the businesses the Bank serves. I look forward to working with Members on both sides of the aisle to reauthorize the Export-Import Bank in the near term."

###