The House yesterday voted 313 to 118 to reauthorize the Export-Import Bank; Klobuchar calls on Senate to do same so American businesses can compete on level playing field in global market
In Minnesota alone, the Export-Import Bank has supported $2 billion in exports and helped more than 170 businesses in the last five years, nearly two-thirds of which were small businesses
Washington, DC – U.S. Senator Amy Klobuchar (D-MN) took to the Senate floor today to call for the Senate to reauthorize the Export-Import Bank following yesterday’s 313 to 118 bipartisan vote in the House to reauthorize the Export-Import Bank. The Export-Import Bank helps American businesses compete on a level playing field in the global market but it’s charter expired at the end of June. In Minnesota alone, the Export-Import Bank has supported $2 billion in exports and helped over 170 businesses in the last five years alone, nearly two-thirds of which were small businesses.
“The Export-Import Bank is crucial to small businesses in Minnesota and across the country that rely on the Bank for help exporting their goods and products to the rest of the world,” Klobuchar said. “The Export-Import Bank has historically been reauthorized with broad bipartisan support and I call on the Senate to act now so that our businesses can receive the support they need to compete on a level playing field in the global market.”
Klobuchar has been a major advocate for the Export-Import Bank. She cosponsored an amendment in July to reauthorize the Bank, which passed the Senate with a strong bipartisan vote as part of the comprehensive surface transportation bill. Also in July, she met with President Obama and senior White House officials to discuss the importance of reauthorizing the Export-Import Bank and work on a strategy to get that done. She led a meeting in June with small business leaders from across the country about the importance of reauthorizing the Export-Import Bank.
Congress allowed the Bank’s charter to expire at the end of June, threatening crucial financing that businesses rely on to help boost their exports and create good jobs all across the country. Since 1934, the Export-Import Bank has helped fuel U.S. exports to foreign markets across the globe.
For a broadcast-quality video excerpt of Klobuchar’s remarks, click here.