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Thursday, April 16, 2015

EXPORT-IMPORT BANK CHAIRMAN PROMOTES TRADE LEGISLATION INTRODUCED IN CONGRESS

FROM:  U.S. EXPORT IMPORT BANK
Export-Import Bank Chairman Fred P. Hochberg’s Statement on the Bipartisan Trade Priorities and Accountability Act of 2015

Washington, D.C. – Export-Import Bank Chairman and President Fred P. Hochberg issued the following statement today in reaction to the introduction of the Bipartisan Trade Priorities and Accountability Act of 2015:

“Trade promotion legislation is a critical bipartisan tool that will lead to expanded opportunity for U.S. exporters and the millions of American workers whose jobs depend on trade.  As Ex-Im Bank pursues its mission of empowering U.S. businesses to take on stiff foreign competition and bring more good-paying jobs to our shores—and as more and more American small businesses join the ranks of direct exporters—TPA will ensure that the U.S. continues to have a strong voice in writing the rules of the road where global trade is concerned.  With critical trade agreements such as the Trans-Pacific Partnership on the horizon, TPA will be essential to ensuring that the U.S. continues to compete on a level playing field, and that American workers will be able to seize the opportunities made possible by trade for generations to come.”

ABOUT EX-IM BANK:

Ex-Im Bank is an independent federal agency that supports and maintains U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. The Bank provides a variety of financing mechanisms, including working capital guarantees and export credit insurance, to promote the sale of U.S. goods and services abroad. Ninety percent of its transactions directly serve American small businesses.

In fiscal year 2014, Ex-Im Bank approved $20.5 billion in total authorizations. These authorizations supported an estimated $27.5 billion in U.S. export sales, as well as approximately 164,000 American jobs in communities across the country.