U.S. Senator Debbie Stabenow, a member of the President's Export Council under both Presidents Bush and Obama, today issued the following statement following the passage of legislation to reauthorize the Export-Import Bank of the United States through 2014:
"More Michigan exports mean more Michigan jobs," said Senator Stabenow. "This legislation will let the Export-Import Bank continue to help Michigan businesses sell their products to more customers in other countries. The opening of the new export center in Detroit this year will help Michigan small businesses reach new markets, which is absolutely one of the best ways to strengthen our economy. "
The Senate passed the legislation last night with a strong bipartisan vote of 78-20. Last week, the House overwhelmingly voted to approve reauthorization by a vote of 330-93. The bill now goes to President Obama for his signature.
The Export-Import Bank of the United States is an independent federal agency that helps small businesses gain better access to the private export financing they need to sell their products. The bank helps support nearly 300,000 American jobs and operates at no cost to American taxpayers. For more information, visit www.exim.gov.