Number
140700
Version
ORIGINAL
Sponsor
ALD. DAVIS
Title
Resolution urging the U.S. Congress to reauthorize the charter for the Export- Import Bank of the United States.
Analysis
This resolution urges the U.S. Congress to reauthorize the charter for the Export-Import Bank of
the United States, which expires on September 30, 2014. The Export-Import Bank of the United
States is an independent export credit agency that serves to assist in financing the export of U.S.
goods and services to international markets by providing guarantees to foreign customers of U.S.
exports.
Body
Whereas, The Export-Import Bank of the United States is an independent export credit agency
that serves to assist in financing the export of U.S. goods and services to international markets by
providing guarantees to foreign customers of U.S. exports; and
Whereas, The Export-Import Bank’s charter expires September 30, 2014, and needs to be
reauthorized by the U.S. Congress; and
Whereas, During its 80-year history, the Export-Import Bank has been reauthorized 16 times, all
with broad bipartisan majorities; and
Whereas, With 80 years of experience, the Export-Import Bank has supported more than $567
billon of exports, primarily to developing markets worldwide; and
Whereas, In fiscal year 2013, the Export-Import Bank earned a profit of more than $1 billion for
the U.S. Treasury, mostly through fees collected from foreign customers; and
Whereas, The Export-Import Bank reported that it supported over 1.2 million jobs over the past 5
years and 205,000 jobs in 2013, earning over and above the cost of its operations and running a
$2 billion surplus; and
Whereas, According to the U.S. Bureau of Economic Analysis, the United States exported
$195.9 billion of goods and services in June 2014; and
Whereas, Exports of goods and services over the last 12 months totaled $2.3 trillion, which is 46
percent above the level of exports in 2009, and have been growing at an annualized rate of 8.8
perce...
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