Today, U.S. Congressman Jason Altmire (PA-04) supported the reauthorization the U.S. Export-Import (Ex-Im) Bank. The bipartisan bill will keep the Ex-Im Bank in operation through 2014. The current charter for the organization expires on May 31, 2012.
"The Export-Import Bank provides critical funding to keep western Pennsylvania's manufacturers competitive with overseas markets," said Congressman Altmire. "This long-term reauthorization is exactly the kind of bipartisan legislation Congress should focus on to stimulate job growth, support American workers, and continue our economic recovery."
The mission of the Ex-Im Bank is to assist in financing the export of U.S. goods and services to international markets for the purpose of creating and sustaining U.S. jobs. Over the last five years, the Ex-Im Bank generated $1.9 billion at no cost to taxpayers. The bipartisan legislation passed the U.S. House of Representatives by a vote of 330-93.