Rep. McCarthy on Bank Deal to Help U.S. Businesses: ‘It's America's Turn'

Press Release

Rep. Carolyn McCarthy (D-NY4), ranking member of the House International Monetary Policy and Trade Subcommittee and a part of the team that helped bring about tonight's bipartisan deal to reauthorize the U.S. Export-Import Bank, issued the following statement:

"For too long American businesses have been anxiously waiting for Washington to get its act together and reauthorize a bank that helps them grow and create local jobs while making money for taxpayers, too. They watched a minority group of politicians in Washington block progress while countries like China became world leaders in exporting. Now it's America's turn to show what we can do. With help from the U.S. Ex-Im Bank, American businesses can help make our nation a world economic leader once again. I'm grateful to Mr. Hoyer and Mr. Cantor for showing leadership and helping make this deal a reality. The full House and Senate should pass this measure immediately so American businesses can get on their way to more growth and job creation."

The U.S. Export-Import bank currently assists 5,716 American exporters, with about two-thirds of them being small businesses, the backbone of the American economy. There are 220 exporters getting help in New York State, and six in Rep. McCarthy's Long Island district.

Last year, Rep. McCarthy held a forum in her district in which the Chairman of the Export-Import Bank, Fred Hochberg, spoke to local businesses about how the Bank can help them.

The Bank is self-funding using fees and interest from companies it assists, and makes a profit which goes into the U.S. treasury for taxpayers.

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