Rep. Chu Applauds Bipartisan Reauthorization of Ex-Im Bank

WASHINGTON, DC – Today, the House of Representatives voted to reauthorize the Export-Import Bank of the United States (Ex-Im). The reauthorization process began in early October when House Democrats filed a discharge petition to bring the bill out of Committee and up for a vote to the full House. On Monday, 62 Republicans joined all 184 Democrats to vote in support of the discharge petition. The Ex-Im Bank is an 80-year-old institution that supports U.S. jobs through the exporting and financing of American goods and services. Its authorization expired on June 30^th of this year due to inaction by Republican leadership. Rep. Judy Chu (CA-27) released the following statement:

“Today’s reauthorization of the Ex-Im Bank – a bipartisan effort by a majority of the House – showcased the best of American government by prioritizing jobs over partisanship. I was deeply disappointed in June when the Republican leadership allowed this Bank’s authorization to expire despite its wide support in Congress and across the country. As we continue to strengthen our economy, it is the wrong time to remove any tool at our disposal that promotes growth. Through this reauthorization, we can better ensure that American businesses remain competitive in the global market. I thank my Republican colleagues for their efforts in supporting this essential measure and hope that we can continue working together for the American people.”

In the last fiscal year, which ended on June 30^th, the Ex-Im Bank supported $22,763,866.87 in exports from companies in the California 27^th District.