Letter to LMC Industries, Inc. - Export-Import Bank
Letter
I am writing to you and other Missouri business leaders, because your company directly benefited from financing provided by the U.S. Export-Import Bank. The Export-Import Bank gives U.S. companies a competitive edge and helps to level the playing field in an increasingly competitive global market. The authorization for the Export-Import Bank is set to expire on September 30, 2014, unless action is taken by Congress. Without reauthorization, other companies in Missouri and across the nation will lack this important tool that helps the U.S. create jobs and compete in the global market.
The Export-Import Bank supports U.S. jobs by helping to finance foreign sales of U.S. products through loan guarantees, direct loans, and credit insurance, all at no cost to taxpayers. Since 2009, the Export-Import Bank has supported $188 billion in U.S. exports and 1.2 million American jobs. Nearly $1 billion in export financing support has assisted Missouri companies. But the Export-Import Bank has not just helped a few large multinational companies. Nearly 85 percent of businesses supported by the Export-Import Bank are small and medium-sized businesses.
I strongly support the reauthorization of the Export-Import Bank to help the thousands of Missourians who benefit from the Export-Import Bank. This month, the Senate is expected to take up legislation to extend the authorization of the Export-Import Bank. Without similar action from the House of Representatives, the authorization for the Export-Import Bank will expire, and U.S. businesses will lose this valuable resource. We cannot let this happen.
As a beneficiary of Export-Import Bank financing, I have two requests for you today. First, that you share with my office, how Export-Import Bank financing has benefited your business, so that I can continue to advocate for the reauthorization and passage of the legislation. Second, that you also share your story with others in your community. Without this reauthorization, other American companies will not have access to this important tool to grow their business, create jobs, and compete globally.
Thank you for your time and attention. If you would like to share your story, please contact my Washington office by emailing exports@mccaskill.senate.gov. I look forward to finding new ways that we can help grow American businesses in the future.
Sincerely.
Claire McCaskill
U.S. Senator
Source