New Dems Host Export-Import Bank Chairman Fred Hochberg
Washington, DC – Earlier today, the New Democrat Coalition met with Export-Import Bank Chairman Fred Hochberg to discuss the importance of the Ex-Im Bank to creating jobs and maintaining America’s status as a leading exporter. The authority for the bank lapsed on July 1st of this year and the conversation highlighted the need to renew its charter. Almost every developed country has an Ex-Im bank to help its businesses and not having one puts our economy at a severe disadvantage. Under Chairman Hochberg’s leadership, the bank has increased its focus on supporting small businesses and financed more than $200 billion of value in exports.
“The Ex-Im Bank plays a critical role in our economy by ensuring that our exports remain competitive with every other country’s,” said Coalition Chairman Ron Kind. “It is shameful that Republicans have let petty political games cost Americans good-paying jobs here at home. If we don’t renew the Ex-Im bank we risk losing manufacturing jobs across the country. It is long past time for House Republicans to bring the bill to the floor for a vote.”
Earlier this month, Coalition leaders sent a letter to Speaker Boehner urging him to address bipartisan priorities with broad support, including reauthorizing the Export-Import Bank. In its American Prosperity Agenda the Coalition called for policies, like supporting the Ex-Im Bank, that will allow the United States to grow the economy by pursuing more export opportunities.
“In the three months since Ex-Im’s authority expired, companies have already started moving hundreds of jobs to other countries as credit has dried up and the bank’s future remains uncertain,” said Chairman Kind. “A clear majority in both chambers of Congress supports renewing the Bank’s charter and we need to take action before we lose more jobs overseas.”
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