This week, the House passed a bipartisan agreement that I helped negotiate to reauthorize the Export-Import Bank. The Ex-Im Bank helps American companies sell their goods all over the world and supports job creation. Reauthorization of the Ex-Im Bank provides certainty for our businesses and ensures they have the resources needed to remain competitive in a global market. The bill, which passed the House 330-93, is an important part of Democrats’ Make It In America jobs plan. Last year, financing from the Ex-Im Bank helped 3,600 private companies add nearly 300,000 jobs across the country, and by enacting this bill we can continue to can keep our businesses competitive and create jobs here at home.
While this agreement will support job creation, we must do more to put Americans back to work and grow our economy. I hope we can work together on additional Make It In America bills, which contain bipartisan proposals that are supported by everyone from labor to business. Strengthening our economy and boosting our manufacturing sector are ideas both parties can and should support, and I am committed to reaching across the aisle to move this agenda forward so Maryland businesses and families can make it in America.
As always, thank you for allowing me to share this update with you, and please continue to share your concerns and insights with me by contacting my office or connecting with me on Facebook, Twitter, or YouTube.
“First, a shoutout to a commendable example of bipartisan problem-solving, in which House Majority Leader Eric Cantor (R-Va.) and Minority Whip Steny Hoyer (D-Md.) brokered a deal to reauthorize the Export-Import Bank, extending it until September 2014 and increasing its loan limit from $100 billion to $140 billion.”
“…I am happy to see the Cantor-Hoyer deal, and not just because the two leaders found a way to get together on something. The Ex-Im Bank is a huge success story through numerous administrations of both parties and is under particularly strong management now. The Ex-Im Bank not only does not cost taxpayers a dime, it turns a dandy profit (almost $2 billion during the past five years) from its careful management of the fees it charges companies for loans and assistance.”
“Just after 2 p.m. on Wednesday, something remarkable happened on the House floor. Twobills negotiated by Majority Leader Eric Cantor (R-Va.) and Minority Whip Steny Hoyer (D-Md.) overwhelmingly passed the House in rapid succession.”
“But their successful shepherding of these bills, particularly the reauthorization of the Export-Import Bank, shows they can work together when called upon to do so.”
“A rare bipartisan compromise is expected to break a logjam over reauthorizing the nation's Export-Import Bank — a critical issue for the business community but one ensnarled in opposition from tea party Republicans.”
“House GOP leaders made the unusual move of reaching across the aisle to broker a deal with Democrats that would allow the bank to continue lending to U.S. firms that export their products. The House approved the deal 330-93 on Wednesday, and the Senate is expected to consider it quickly.”
“‘Today we are ending the uncertainty for American manufacturers waiting for Congress to act by coming together,’ said Rep. Steny Hoyer(D-Md.), the minority leader.