Throughout the month of August, Senator Murray has been calling on her colleagues to support American exports by reauthorizing the Export-Import (Ex-Im) Bank. At the end of this month, the authorization of the Ex-Im Bank will expire and jeopardize billions of dollars of American exports and hundreds of thousands of jobs spread out across every state.
In fiscal year 2013, the Bank supported $37.4 billion in American exports from 3,413 exporters, with 90% of the transactions involving small businesses. The Bank operates from fees that it charges, and returned over $1 billion in revenue in the last fiscal year, after covering its operating expenses. Over the next 10 years, the Congressional Budget Office estimates the Bank will return about $14 billion.
Reauthorizing the Bank has always been routine. According to the Congressional Research Service, the Ex-Im Bank’s authorization has been extended 45 times since 1945. It is time to give American businesses the confidence they need by giving the Bank the authority to continue operating with the funds that they themselves raise.
Read Senator Murray's letter to Speaker Boehner from July calling for a vote here.
See more of Senator Murray's outreach on the Export-Import Bank:#ExIm August 2014