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BANKING COMMITTEE PASSES EXPORT-IMPORT BANK REAUTHORIZATION

September 8, 2011

WASHINGTON – Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a markup of the Export-Import Bank Reauthorization Act of 2011 The Export-Import Bank is the official export credit agency of the United States and it assists in financing the export of U.S. goods and services to international markets.  The Committee approved the bill with bipartisan support by unanimous voice vote.  Below is Senator Johnson’s statement following the markup. 
 
“The Ex-Im Bank is a proven jobs creator and can help our economy get back on track.  Its mission is to use exports to help create and maintain jobs here at home, and this bill will help meet the President’s call for doubling our exports by 2015 in an effort to create as many as 2 million American jobs.
 
“I want to thank Ranking Member Shelby and Chairman Warner and Ranking Member Kirk of the Security and International Trade Subcommittee for their hard work on this bill.  Additionally, Senators Menendez, Bennet and Hagan also provided valuable input into this bill and I appreciate their contributions as well. 
 
“As our economy continues to struggle it is my hope that the Senate can move this commonsense jobs measure forward in a timely manner.”
 
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