WASHINGTON – Joint Economic Committee (JEC) Ranking Democrat Carolyn Maloney, D-N.Y., issued the following statement Friday after the House and Senate approved a $305 billion transportation funding plan that included reauthorization of the Export-Import Bank charter.

“American exporters can breathe a sigh of relief now that Congress has agreed to reauthorize the expired Export-Import Bank charter as part of the transportation bill. Once again, U.S businesses can obtain the loans, loan guarantees and insurance policies that will not only increase their export opportunities but will help create more jobs for American workers.

“The bank’s charter should never have been allowed to expire in the first place as a sop to the extreme right wing of the Republican Party. That unilateral disarmament put us at a distinct disadvantage compared to our foreign competitors, whose export credit agencies continued to help their businesses claim a larger share of the world market.

“I urge the Export-Import Bank to resume operations as quickly as possible so that U.S. businesses that relied on the bank can get on with the business of exporting their goods and creating new jobs.”

 

Read about the role of the Export-Import Bank here.