DeLauro Statement on Vote to Reauthorize Export-Import Bank

WASHINGTON, DC—Congresswoman Rosa DeLauro (D-CT) released the following statement on today’s vote on the Reform Exports and Expand the American Economy Act, legislation to reauthorize the Export-Import Bank through September 2019. On October 9, DeLauro signed the bipartisan discharge petition that forced the Republican Majority to bring the bill up for a vote.

“For 81 years, the Export-Import Bank has been providing American businesses with the financing and guarantees they need to ship their goods overseas. But because of Congressional inaction, the Bank lost its authorization to finance exports and has not been allowed to provide financing for new exports.

“We know this is not an academic argument. Just last month GE announced they are moving 500 American jobs to Europe. In their announcement, GE cited the fact that the United States is ‘the only major economy in the world without an Export Bank.’ This is yet another example of the staggering damage being done to the economy due to the Majority’s political intransigence and dysfunction. Beyond GE are thousands of small and medium sized businesses who are disproportionately suffering the consequences of our failure to reauthorize the Bank. American small businesses do not go overseas, they close down.

“Today’s vote is a good first step. Now we need the Senate to take up this legislation and make clear to the rest of the world that America is open for business.”

The Export-Import Bank provides U.S. businesses with financing to help them sell their goods all over the world and create jobs here at home. Over the past seven years, the Bank has helped Connecticut companies make exports worth $4 billion and supported over 1.3 million American jobs. And it does all of this without adding a dime to the deficit. In fact, last year alone, it generated a $675 million surplus for taxpayers.


###