DeLauro Tours APS Technology, Delivers Remarks on Importance of Export-Import Bank Reauthorization

NEW HAVEN, CT—Congresswoman Rosa DeLauro (CT-3) visited APS Technology in Wallingford today to tour their facility and deliver remarks urging a long-term reauthorization of the Export-Import Bank. APS Technology uses financial products from the Export-Import Bank, which provides U.S. businesses with financing to help them sell their goods all over the world and create jobs here at home.

“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, in just under 13 hours, the Bank will lose its authorization to finance exports. It will not be allowed to provide financing for new exports unless Congress passes legislation renewing its charter. All indications are that a multi-year reauthorization would sail through the Congress. But last week the Republican leadership left town without allowing a vote. They must stop the irresponsible games and allow us a vote.”

Since 2009, the Bank has helped APS export goods worth over $1.2 million. This has helped APS grow, innovate, and win business from customers as far afield as North Africa, the Asia-Pacific Region and Latin America, which is good for both the United States and Connecticut. Similar export credit agencies, many of them better funded than our own, now exist in over 60 countries and directly support overseas competitors of Connecticut businesses like APS.

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.

For more information on the Export-Import Bank, click here.


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