Congress to take up Chamber-supported bill to authorize Ex-Im Bank: critical for Kentucky’s small businesses
The U.S. House of Representatives is expected to vote Monday on bipartisan legislation to reauthorize the Export Import Bank of the United States before its charter expires at the end of the year.
In its role as the official U.S. export credit agency, Ex-Im is a critical export finance tool for exporters in Kentucky, at no cost to American taxpayers. It is especially critical for small businesses, who see Ex-Im as a financial lifeline and safety net for exporting goods in foreign markets. Since 2011, Kentucky exports have surged to an all-time high of $22.1 billion and the Commonwealth currently ranks 2nd among U.S. states for export growth in 2013 at 11.3%. This growth is also fueling job creation throughout the state with a projected 150,000 jobs supported by exporting in 2013.
The Senate voted in July to fund Ex-Im as part of a longer-term highway bill, which has since moved to the House for consideration.
The failure to reauthorize Ex-Im will inevitably lead to fewer exports and the loss of jobs in Kentucky. The Chamber encourages Kentucky’s Congressional delegation and members to voice support on this critical issue.
Please call 877-422-0349 or add your name online in support of the Export-Import Bank.