With June 30 Expiration, Congress Can Prevent Shutdown
WASHINGTON, D.C. â€“ U.S. Senator Mark Kirk (R-Ill.) led an amendment to keep open the Export-Import Bank, set to expire on June 30. A bipartisan, filibuster-proof majority votedÂ 65-31Â to back Senator Kirkâ€™s amendment to reform Ex-Im and extend its charter to 2019.
â€œThis vote sends a clear message that we have a bipartisan majority to save the Export-Import Bank and the 46,000 Illinois jobs that depend on it,â€Â Senator Kirk said. â€œAllowing Ex-Im to expire hands American competitiveness over to China and Europe, and this vote shows that we donâ€™t have to.â€
Nearly 90 percent of Ex-Im’s transactions each year directly benefit small businesses, and nationwide the bank supports more than 205,000 American jobs. The top Illinois companies supported by Ex-Im are The Boeing Company, CNH Industrial America and Caterpillar.Â The Export-Import Bank supports 244 Illinois businesses and operates with no cost to the taxpayer. In the past three years, the bank returned nearly $3 billion to the U.S. Treasury. The Ex-Im Coalition estimates 46,722 jobs in Illinois are supported by the Ex-Im Bank.
Senator Kirk and Senator Heidi Heitkamp (D-N.D.) introduced the Export-Import Bank Reform and Reauthorization Act (S. 819) earlier this year.Â The Chamber of Commerce and the National Association of Manufacturers are in support ofÂ the Kirk-Heitkamp legislation.