Export-Import Bank Reauthorization to get House vote
A discharge petition that will force a House vote to reauthorize the Export-Import Bank, the export credit agency of the federal government, recently received enough votes in the House to move forward, a measure of particular importance to DuPage County.
The discharge petition is a rarely used parliamentary tool that allows legislation to skip the committee process -- and, thus, support from the House leadership -- and move straight to the House floor for a vote.
The bank finances and insures purchases of U.S. goods by foreign customers who are unable or unwilling to accept the credit risk.
U.S. Rep. Robert Dold (R-IL), who has been spearheading efforts to reauthorize the bank, signed the petition last week, giving it the 218 signatures needed. As a result, the House is expected to pass the Export-Import Bank reauthorization by the end of the month, moving it to the Senate for review.
"The Export-Import Bank plays a key role in protecting and growing American jobs by helping U.S. businesses compete on a level playing field with our foreign competitors," Dold said. "The bank has been reauthorized by 13 different presidents—both Republicans and Democrats—over the last 81 years. As an original co-sponsor of the legislation to re-authorize the Export-Import Bank, I am proud to help lead this crucial bipartisan effort to protect American jobs and grow our economy."
DuPage County is the second largest county exporter in the region, reporting $7.4 billion in total exports in 2012.
The county's top exports, by value and share, are: machinery, computer and electronics, chemicals, food products, and fabricated metal products