New Democrat Coalition Leadership Applauds Heck Bill to Reauthorize U.S. Export-Import Bank
The New Democrat Coalition’s leadership, along with New Dem Rep. Denny Heck (D-WA), released the following statement in anticipation of the release of the Protect American Jobs and Exports Act of 2014:
“From American Boulevard in Eau Claire, Wisconsin to 112th Avenue in Bellevue, Washington, manufacturers, farmers, entrepreneurs and innovators throughout the country rely on the Export-Import Bank to sell goods and services stamped ‘Made in America’ around the globe,” the statement read. “At a time when other countries are investing several times what the United States is to boost their exports, we cannot risk unilaterally disarming ourselves in the face of global competition. That’s why we’re proud to support this legislation: with renewal of the U.S. Export-Import Bank, we can help to ensure that the 21st century is an American century.”
The statement above received the support of New Democrat Coalition Chairman Rep. Ron Kind, Vice Chairs Rep. Jim Himes, Rep. Rick Larsen, Rep. Gerry Connolly and Trade Task Force Vice Chair Rep. Denny Heck, who will introduce the legislation. New Dems took a leading role in the reauthorization of Ex-Im in 2012, with Vice-Chair Larsen leading the bill. The New Dem support of the Heck legislation follows a letter from 865 business organizations calling for reauthorization to give businesses who rely on the bank for exporting a sense of certainty and stability in the global marketplace. New Dem leadership and an overwhelming majority of Coalition members will serve as original cosponsors of the bill.
The Export-Import Bank of the United States is the official export credit agency of the U.S. The Bank helps to fill the gaps in private financing, helping to invest in international transactions that the private sector cannot or will not. Nearly 90% of the Bank’s transactions in the last year alone benefitted American small businesses, and the Bank supported 205,000 jobs nationwide.
Rep. Heck’s bill would extend the life of the Bank for seven years, maintaining the Bank’s 80-year legacy of helping U.S. companies of all sizes convert export opportunities into growth.
The New Democrat Coalition is dedicated to maintaining America’s standing as the world’s strongest, most successful nation. Founded in 1997, the New Dems believe firmly in the power of American ingenuity and innovation, and are focused on finding ways to foster and harness this creativity to grow our economy, create new American jobs, and ensure a safer and more secure future for our country.
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