Ayotte Helps Secure Votes on Renewing Export-Import Bank

Press Release

U.S. Senator Kelly Ayotte announced today that she has worked with her colleagues to secure a commitment from Senate and House leadership that both chambers of Congress will take up and vote on bipartisan legislation to renew the Export-Import Bank. The bank, whose charter is set to expire on June 30, allows companies to obtain competitive financing to compete in the global marketplace and has helped support 36 New Hampshire businesses over the last seven years. Ayotte is cosponsoring the Export-Import Bank Reform and Reauthorization Act of 2015, which would reauthorize the Bank's charter until September 30, 2019, increase small business lending, support American jobs and minimize risk to taxpayers by enhancing bank oversight.

"The Export-Import Bank helps small and medium sized businesses in New Hampshire compete in the global marketplace and create jobs, and failure to renew the bank's charter would cause job losses and hurt our economy," said Ayotte. "I'll continue to push Congress to reauthorize Ex-Im so that New Hampshire exporters continue to have access to financing that helps them sell their goods and services overseas and create more jobs."
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‎Doug Folsom, plant leader at GE Aviation's facility in Hooksett, said, "We appreciate Sen Ayotte's leadership in securing a path for a timely vote in the Senate on the Ex-Im Bank. Her commitment to US manufacturers is critical to the 720 jobs at this facility and the thousands of other workers who rely on exports in this state.‎"

Ayotte has met with New Hampshire exporters from across the state who have been able to grow their businesses and create more jobs by utilizing Ex-Im financing to export more goods and services overseas. Last month, she visited New Hampshire Ball Bearings in Laconia - a major supplier of ball bearings to customers that use Ex-Im financing - to discuss the importance of renewing the bank's charter.

As the official export credit agency of the U.S., Ex-Im is charged with supporting American jobs through the financing of U.S. exports to international markets, primarily in circumstances where alternative private financing is not available. Ex-Im has supported over 1.3 million American jobs over the past six years, and the non-partisan Congressional Budget Office has estimated that over the next ten years, Ex-Im activities will generate over $14 billion in savings for the federal budget between FY 2015 and 2024.

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