Over 330 days have passed since the Senate received the nomination of J. Mark Watters to fill the vacancy on the Export-Import Bank Board of Directors; Without a quorum and Board approval, the Export-Import Bank is unable to finance many medium- and long-term deals or adopt any of the accountability measures that were included in the Klobuchar-backed bipartisan Export-Import Bank Reform and Reauthorization Act of 2015 so that American businesses have access to the financing they need to compete globally   

In the last five years, the Export-Import Bank has supported over $2 billion in exports and helped over 170 companies in Minnesota

WASHINGTON, DC – U.S. Senator Amy Klobuchar took to the Senate floor to renew her call for the Senate to confirm J. Mark McWatters to the Export-Import Bank Board so that the agency can fully function. Over 330 days have passed since the Senate Banking Committee received this nomination which would provide the Export-Import Bank with a quorum. Without a quorum and Board approval, the Export-Import Bank is unable to update loan limits or adopt any of the accountability measures that were included in the Klobuchar-backed bipartisan Export-Import Bank Reform and Reauthorization Act of 2015 so that American businesses have access to the financing they need to compete globally. In the last five years, the Export-Import Bank has supported over $2 billion in exports and helped over 170 companies in Minnesota.

“Small-business owners, like the many I have met with in Minnesota, tell me that the Export-Import Bank is essential for their ability to compete all over the world,” Klobuchar said. “We need to make sure the Export-Import Bank is able to help all American businesses grow and reach markets all over the world. By confirming Mr. McWatters to the vacancy on the Board, we can give the Export-Import Bank the quorum needed to support American businesses and put in place several key reforms I supported as a part of the bipartisan reauthorization bill.”

Klobuchar has been a major advocate for the Export-Import Bank. She cosponsored the bipartisan amendment to the transportation bill to reauthorize the Bank, which passed the Senate last July and consistently spoke on the Senate floor to call on Congress to reauthorize the Bank. Also last 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. In her role as chair of the Senate Steering and Outreach Committee, she called a meeting last June with small business leaders from across the country about the importance of reauthorizing the Export-Import Bank.

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.

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