Contributed photo
Contributed photo
U.S. Sen. Mark Kirk (R-IL) released a statement after the House passed the Export-Import Bank Reform and Reauthorization Act on Tuesday. Kirk introduced the bill with fellow Sen. Heidi Heitkamp (D-ND).
The senators' bill passed in the Senate in July as an amendment to the DRIVE Act. The bill was sent to the House and reached the floor through a discharge petition filed by U.S. Rep. Stephen Fincher (R-TN). The bill extends the Export-Import Bank's charter to 2019.
“American manufacturers can be confident that the Export-Import Bank has a clear supermajority in the Senate and now the House," Kirk said. "This vote is a great indicator of support but is not the final hurdle in keeping American jobs in America.”
Several influential Illinois companies are supported by Ex-Im, including Boeing, CNH Industrial America and Caterpillar. The agency also assists many small businesses throughout Illinois. With no cost to taxpayers, Ex-Im has returned $2.5 billion to the U.S. Treasury over the past three years. After reviewing its terms, the Congressional Budget Office has estimated that the Kirk-Heitkamp bill would save taxpayers up to $2.3 billion overall when fully implemented.
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