Today, Congressman Sires joined his colleagues in the House of Representatives in voting for H.R. 2072, the Securing American Jobs Through Exports Act of 2011. This legislation would provide long-term reauthorization of the U.S. Export-Import Bank, giving small businesses access to guaranteed capital to keep American exports competitive. The bill passed the House by a vote of 330-93.
"In today's global market it is imperative that our small businesses are given the opportunity to succeed around the world" said Sires. "This legislation levels the playing field and ensures that American small businesses have the resources to compete globally."
The Export-Import Bank of the United States is the export credit agency of the United States. Specifically, the U.S. Export-Import Bank provides working capital guarantees, export credit insurance, and loan guarantees to small businesses looking to export goods in the global market. H.R. 2072 authorizes the U.S. Export-Import Bank until 2015.
At the present moment, H.R. 2072 is under review in the Senate.