AWB Welcomes Reauthorization of Export-Import Bank
Federal appropriations bill approved by House and Senate includes long-term reauthorization of agency that provides support for Washington manufacturers and growers
OLYMPIA — Association of Washington Business President Kris Johnson released the following statement after the U.S. Senate passed a federal appropriations bill today that includes long-term reauthorization of the Export-Import Bank:
“This is great news for Washington, which is one of the most trade-driven states in the nation. More than 40% of our jobs are connected in some way to international trade and exports, and the Export-Import Bank plays a critical role in helping hundreds of Washington manufacturers and growers get their products to foreign markets, allowing them to hire more workers and expand the economy here at home.
“We are grateful for the hard work and bipartisan support of Washington’s congressional leaders to ensure that long-term reauthorization of the Ex-Im Bank was included in the funding legislation approved today by the Senate and earlier this week by the House of Representatives.
“The extension provides authorization of the bank through 2026, giving certainty and support for employers, particularly for small- and medium-sized businesses that rely on the bank to export their products. Since 2014, more than 100 Washington small businesses have utilized the bank with a total export value of $31 billion.
“The extension also includes changes that will level the playing field with other countries including China, safeguard against fraud, encourage small business participation, and support renewable energy and energy efficiency projects.
“We look forward to the President’s signature on the bill, and to the continued success of Washington’s manufacturers, growers and other exporters as they compete in the global marketplace.”