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Nearly 100 WA businesses used Export-Import Bank in 2014 to expand production and create jobs

 

(Washington, D.C.) – Today, Sen. Patty Murray (D-WA) hailed a provision in a newly-negotiated transportation bill that would renew the Export-Import Bank. The Bank, which lost its charter five months ago, is a critical tool for Washington state businesses that use the agency’s loan services to access overseas markets, enabling them to expand production, create local jobs, and grow the state’s economy. In recent months, Sen. Murray has met with small business owners to hear from them directly about how loans from the Export-Import Bank have helped them sell their goods in foreign markets.

“Washington state makes some of the best products in the world, and the Export-Import Bank has played a critical role in helping our small businesses expand, hire more workers, and contribute to the local economy. This is so important to helping grow our economy from the middle out, not just the top down,” Sen. Murray said. “While the Export-Import Bank’s renewal isn’t a done deal yet, I am proud that Democrats and Republicans were able to work together to take this critical step—and I credit the small business owners in Washington state who’ve stood up to tell their stories so that my colleagues in Congress knew exactly what was at stake when they tried to put politics ahead of people.”

The provision to renew the Export-Import Bank is included in a long-term surface transportation bill that was negotiated by members of the House and the Senate. Votes on the transportation bill are expected later this week, which would send the bill to the President.