Washington, D.C.—Senator Jeanne Shaheen (D-NH) made the following remarks after voting in favor of re-authorizing the Export-Import Bank, whose charter expired on June 30th. The Senate approved the re-authorization by a vote of 67 to 26 as an amendment to transportation funding legislation.
“This vote is long overdue and clears a major hurdle towards getting the Export-Import Bank back up and running for New Hampshire businesses,” said Shaheen. “I urge the House of Representatives to put politics aside and follow suit by taking up this important legislation for our nation’s economy. Politicians preventing an extension of the Bank’s charter for ideological reasons are asking American businesses and workers to fight for their products and their jobs with one arm tied behind their back. Granite State businesses are producing cutting-edge products that are in demand around the world, and the Export-Import Bank should be at-the-ready to assist in getting these products to international consumers.”
Since 2007, the Export-Import Bank has supported over 2,300 jobs in New Hampshire. Last year alone, the bank supported $29.2 million in Granite State exports, 60% of which came from small businesses. In March, Senator Shaheen introduced legislation in the Senate to reauthorize the Export-Import Bank through 2022, while increasing the bank’s lending cap and number of loans to small businesses.