Issues and events that shape Long Island's economic and legislative landscape.

Sunday, September 25, 2016

Letter to U.S. Congress in support of the Export-Import Bank of the U.S.

May 4, 2012

To Members of the United States Congress:

We are writing to urge your support for reauthorization of the Export-Import (Ex-Im) Bank of the United States, and a simultaneous increase in its lending cap.Ex-ImBank –which is set to expire on May 31–is a vital resource in helping U.S. companies both large and small to successfully engage in international trade.

 The Ex-ImBank is a self-sustaining federal agency that assists in financing the export of U.S. goods and services to international markets. In the five years since Congress last reauthorized the Bank's operations, it has returned about $3.4billion to the U.S. Treasury above and beyond the cost of its operations.For the fiscal year ending on September 30, 2011,Ex-Im Bank supported $40.6billion worth of U.S. exportsat more than 3,600 U.S. companies, helping to create or sustain 290,000 export-related U.S. jobs.

To view complete letter click here.