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Shaheen Applauds House Passage of Export-Import Bank Reauthorization, Urges Similar Vote in Senate

(Washington, DC) – U.S. Senator Jeanne Shaheen (D-NH) welcomed this evening’s bipartisan vote in the House or Representatives to reauthorize the Export-Import Bank and is urging Republican leadership to allow a similar vote in the Senate. The Export-Import Bank, which provides loans to U.S. exporters, expired on June 30th of this year.

“Despite a proven track record of boosting trade and creating jobs across our economy, it’s now been 118 days since the Export-Import bank lost its authorization to issue new loans,” said Shaheen. “There’s broad bipartisan support for reauthorization, and Senate Republican leaders should seize this opportunity to send this legislation to the President’s desk. Granite State businesses are producing cutting-edge products that are in demand around the world, and many of them count on the Export-Import Bank to help finance their exports.”

Since 2007, the Export-Import Bank has supported at least 36 exporters, 25 small businesses, and 2,395 jobs in New Hampshire. In 2014 alone, the bank supported $29.2 million in New Hampshire exports, including 60% from small businesses. Senator Shaheen introduced legislation in the Senate to reauthorize the Export-Import Bank through 2022, while increasing the bank’s lending cap and percentage of loans to small businesses.