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Perlmutter Votes to Reauthorize Export-Import Bank
Today, U.S. Rep. Ed Perlmutter (CO-07) voted to reauthorize the U.S. Export-Import (EX-Im) Bank, which promotes exports by U.S. companies and supports more than 160,000 U.S. jobs.
“My district, the suburbs of Denver, 18 small companies benefit from the Export-Import Bank and the guaranteed support it provides. Hundreds and hundreds of jobs, and these are jobs in plastics, scientific equipment, food manufacturing, wood products, electrical equipment,” said Rep. Perlmutter in his floor remarks in support of reauthorizing the Ex-Im Bank. “Those are the forgotten people in this argument. Those are real jobs and real people.”
To watch Rep. Perlmutter’s full remarks, see below or click here.
Rep. Perlmutter has long advocated for the Ex-Im Bank. The Bank has created and maintained U.S. jobs by filling gaps in private export financing at no cost to American taxpayers and actually returns money to the Treasury for deficit reduction every year. In FY 2014 alone, the Ex-Im Bank supported more than 164,000 private-sector jobs and $27.4 billion worth of U.S. exports, generating a $675 million surplus. Almost every developed country has an Ex-Im Bank to help its businesses, and not having one puts the U.S. economy at a severe disadvantage.
The vote to reauthorize the Ex-Im Bank was a result of more than 40 Republicans and Democrats working together to sign a discharge petition demanding that legislation come to the House floor for a vote, marking the first successful discharge petition since 2002. The Ex-Im Bank expired July 1, 2015 after Republican congressional leaders refused to bring it up for a reauthorization vote.