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Since 2007, almost 9,000 companies have used the Export-Import Bank (“Ex-Im”) to finance export sales, including almost 6,000 small businesses. In 2014, Ex-Im made over 3,7000 authorizations and more than 3000-or nearly 90 percent-directly served U.S. small businesses.
In 2014, the Ex-Im Bank supported the purchase of $27.5 billion worth of exports that created or sustained approximately 164,000 jobs. Moreover, in fiscal year 2014, Ex-Im returned $674.7 million to the U.S. Treasury after covering all its expenses. Since 1990, Ex-Im has returned to the Treasury $7 billion more than it has received in appropriations for program and administrative costs.
U.S. high tech manufacturers face stiff competition from foreign competitors that enjoy much greater support from their nation’s export credit agencies. Failure to reauthorize Ex-Im would amount to unilateral disarmament in the face of other nations’ aggressive trade financed programs.
Ex-Im Bank reauthorization enjoys broad support from the U.S. business community and has received strong bipartisan support on Capitol Hill. Ex-Im was last reauthorized in 2012 with the House of Representatives approving the bill by a vote of 330-93 on May 9, and the Senate following suit with a 78-20 vote on May 15.
Please take a few minutes to contact your Senators and U.S. Representative to support reauthorization of the Export-Import Bank of the United States before it expires on June 30, 2015.
1) Ask your U.S. Representative to cosponsor H.R. 597 and support reauthorization of the Ex-Im Bank before it expires on June 30, 2015.
2) Ask your Senators to cosponsor S. 819 and support reauthorization of the Ex-Im Bank before it expires on June 30, 2015.
Send an online letter to your U.S. Senator or U.S. House Representative here.