Cicilline, Cartwright, Dingell, Lieu Applaud House Action to Support American Jobs through EXIM Bank Reauthorization

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WASHINGTON, DC – The House Democratic Policy and Communications Committee (DPCC) Chairman David Cicilline (RI-01) and Co-Chairs Matt Cartwright (PA-08), Debbie Dingell (MI-12) and Ted Lieu (CA-33) released the following statements on the House Passage of the Export Finance Agency Act to reauthorize the Export-Import (EXIM) Bank. EXIM Bank reauthorization is part of part of House Democrats' ongoing work for the people to support American jobs and increase paychecks. It has broad support from the AFL-CIO, International Association of Machinists and Aerospace Workers, IFPTE, and National Association of Manufacturers among others.

"The Export-Import Bank creates and supports jobs in Rhode Island and all across America. It's a critical agency for small businesses that can't get access to private loans. The bill we are passing today will ensure that the Ex-Im Bank continues serving American job creators for years to come. This bill increases the Bank's lending authority by $40 billion, expands outreach efforts to small business owners, and increases the percentage of lending for small businesses from 25% to 30% of the total lending volume." Cicilline said. "The Export-Import Bank is a powerful tool for Rhode Island businesses and will help them continue to create good-paying jobs. I'm pleased that we are sending this bill to the Senate today. Senator McConnell should bring it to the floor without delay."

"More opportunities for American businesses to sell their products around the globe means more jobs for American workers," Cartwright said."Over the past ten years, the Export-Import Bank has helped create more than 1.5 million American jobs while costing taxpayers nothing. This legislation both ensures that this success story can continue and enables even more small businesses across the country to share in this prosperity."

"The Export-Import Bank is a vital tool in supporting manufacturing and creating good-paying jobs here at home," Dingell said. "For the past 80 years, the bank has played a critical role in helping US businesses compete on a level playing field with our foreign competitors. In fact, the bank has helped 137 Michigan businesses, including more than 100 small businesses, export $3 billion worth of goods overseas – all while actually making money for taxpayers. The Ex-Im Bank is a powerful force and a pillar of America's economic stability."

"The EXIM plays a crucial role in our government's efforts to support American jobs by promoting the export of U.S. goods and services," Lieu said. "This past month alone, the EXIM financed close to $2 million in exports from my district. Our United States Export Finance Agency Act will reauthorize and strengthen the EXIM, and will support small businesses and businesses owned by women, minorities, veterans and people with disabilities. The Democratic House is working for the people by passing this reauthorization, which fortifies our country's economic security. Without a robust EXIM bank, American businesses and workers will suffer. I encourage the Senate to vote to reauthorize the EXIM swiftly."