Washington, DC - Following today's vote in the House of Representatives to reauthorize the Export-Import Bank (Ex-Im Bank), Colorado U.S. Senator Michael Bennet is calling on the Senate to quickly take up and pass the bill. The Ex-Im Bank is an economic engine that has helped Colorado companies finance the export of domestically-made products to overseas markets for more than 80 years.
"For almost four months, Congress has denied Colorado businesses the certainty they need to make crucial business decisions that help them remain competitive in the global economy," Bennet said. "Once again, Washington dysfunction is standing in the way of our economic security. With today's bipartisan vote in the House, the Senate should quickly follow suit and reauthorize the Ex-Im Bank to boost our economic competitiveness."
The charter for the Ex-Im Bank expired on June 30, 2015, prohibiting the agency from extending crucial financial assistance to Colorado businesses. More than 100 Colorado businesses have used the Bank to facilitate the sale of their products overseas, generating exports of $815 million since 2007.
In May, Bennet led a group of Colorado businesses in calling on Congressional leadership to extend the charter prior to its expiration.
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