Washington – Business Roundtable today praised the U.S. House of Representatives for passing a multi-year reauthorization of the U.S. Export-Import (Ex-Im) Bank.

“We commend the House’s bipartisan passage of a multi-year reauthorization of the Ex-Im Bank, which plays a critical role in supporting the U.S. economy and American jobs,” said John Engler, President of Business Roundtable. “Since Congress allowed the Bank’s authority to lapse in July, U.S. companies – large and small – have not been able to compete on a level playing field with foreign competitors, which have continued to receive significant financing from export credit agencies around the world. The lapse has also put hundreds of thousands of American jobs at unnecessary risk, which is why we urge the Senate to take action as soon as possible.”

In fiscal year 2014, the Ex-Im Bank provided financing for $27.5 billion worth of U.S. exports through its approval of over 3,700 transactions for U.S. companies, including more than 3,300 for small businesses. These exports supported an estimated 164,000 American jobs at these companies, as well as companies in their U.S. supply chains. 

Today, Business Roundtable sent a letter urging congressional leaders to reauthorize the Ex-Im Bank. U.S. trade expansion, including through reauthorization of the Bank, is a key pillar of the Business Roundtable pro-growth policy agenda, Achieving America’s Full Potential: More Work, Greater Investment, Unlimited Opportunity.