Rep. Scott Peters’ Statement on Authorization of Job-Creating Export-Import Bank

WASHINGTON, DC – This evening, U.S. Congressman Scott Peters (CA-52) released the following statement after he helped pass bipartisan legislation to reauthorize the Export-Import Bank. The Ex-Im Bank helps American companies sell their products to overseas customers by helping finance exports.

“The Ex-Im Bank is one of the best ways to grow the economy, create jobs here in the United States, and ship products to markets across the world with a ‘Made-in-America’ sticker attached,” Rep. Peters said. “Since 2007, 43 companies in San Diego, including 25 small businesses, have exported $3 billion worth of goods with the help of the Ex-Im Bank.”

Peters continued, “The vote to reopen Ex-Im only happened because a group of Republicans who want to create high-quality private-sector jobs finally bucked their party leaders and joined with Democrats to help get this done. There are other significant areas where the majority of Congress, and the majority of the American people, agrees including infrastructure, immigration, and background checks on firearm purchases, but a small segment of the Republican majority keeps anything from happening, leaving American families frustrated and bewildered at Congressional inaction.”

In 2014, the Export-Import Bank generated $675 million in surplus for the U.S. Treasury and supported 164,000 jobs.

“California, and San Diego specifically, benefit from the Export-Import Bank’s facilitation of exports,” said Bo Reed, Chair of the San Diego & Imperial District Export Council. “In the last seven years, Ex-Im has assisted more than 1100 California companies to export more than $26 billion in sales. We appreciate Congressman Peters’ work to keep Ex-Im open and are confident that it will help create Made-In-America jobs in our region.”

###