Job Creating Ex-Im Bank is Left Off McCarthy's Memo That Promises Economic Growth

Majority Leader McCarthy claims in his memo outlining the House Floor schedule for the month of June that House Republicans want to “preserve American interests abroad, grow our economy, and increase commerce.” Well that's interesting, because the bill that would help accomplish all of those objectives is nowhere to be found on his list. Which bill is that? A long-term reauthorization of the Export-Import Bank. As a reminder, the Ex-Im Bank:

  • Supported 1.3 million private-sector, American jobs since 2009, supporting 164,000 jobs in FY 2014 alone. [Fact Sheet]
  • Directly supported more than 3,340 American small businesses in FY2014 – meaning that small businesses make up nearly 90 percent of the Bank's transactions. [Fact Sheet]
  • Supported $27.5 billion worth of U.S. exports through their financing in FY2014. $10.7 billion of that total represents exports from U.S. small businesses, making small business exports the top category for Ex-Im Bank supported exports last year. [Fact Sheet]
  • Generated nearly $7 billion more than the cost of its operations over the past two decades. That's money the Bank generates for the American taxpayer to help reduce the federal deficit. [Fact Sheet]

And to top it off, Leader McCarthy’s fellow Republicans want to see it reauthorized:

Rep. Stephen Fincher  (R-TN): “‘A majority of RSC Members support the Bank’s reauthorization,’ Fincher said in a statement. ‘Given that there was no Ex-Im vote taken this week by RSC members, and given my [reauthorization] bill’s conservative support, the perspective being circulated on behalf of the entire conservative caucus is misleading and indicative of the views of a small group of Steering Committee members– not rank-and-file RSC members.’” [The Hill, 5/21/15]

Tony Fratto, former Treasury official: “Not only do we have support in the Republican Study Committee, 33 RSC members are actually co-sponsors of the House Ex-Im reauthorization bill. They deserve a vote on this issue now.” [The Hill, 5/21/15]

Senator Lindsey Graham (R-SC): “The fact that you would let the [Export-Import] bank expire because of some ideological jihad. … I’m not going to be part of it,” Graham said. “I’m not going to sit on the sidelines and let jobs in my state be lost.” [Politico, 5/19/15]

Rep. Joe Wilson (R-SC): “As we continue to debate reauthorization, I hope we can focus on the fact of jobs and the more than 60 competing international export credit agencies that undercut and destroy American jobs daily.” [Politico, 5/20/15]

As we approach the looming June 30 deadline, it is time for Republican leaders to listen to the business community and Members of their own party who want to see the Export-Import Bank reauthorized by bringing a bill to the Floor for a vote without delay. 

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