Lujan Votes to Reauthorize Job-Creating Export-Import Bank

Press Release

Congressman Ben Ray Luján of New Mexico's Third District voted today to reauthorize the job-creating Export-Import Bank after joining a successful effort to force a vote on the measure. Earlier this month, Luján, along with House Democrats and a handful of House Republicans, signed a discharge petition that requires an up or down vote on legislation once a majority of the House signs on. The bank's charter expired at the end of June after House Republican leaders refused to allow such a vote.

"Today's vote takes us one step closer to enabling to the Export-Import Bank to once again support small businesses across the country that are creating jobs in our communities," Congressman Luján said. "It also breaks through the Republican dysfunction that brought the bank's new lending to a halt. Already the failure to reauthorize the bank before its charter expired has resulted in hundreds of American jobs going overseas while putting thousands of other in jeopardy. I encourage the Senate to act quickly to pass this legislation and send it to the President so that the bank can once again help American businesses compete on a level playing field and receive the financing that supports tens of thousands of jobs nationwide."

The Export-Import Bank supported more than 164,000 American jobs in the last fiscal year and has supported more than 1.3 million jobs since 2009. In New Mexico, 16 companies have received financing through the bank, supporting $42 million in exports and 265 jobs. Last year alone, the bank supported more than 3,300 small businesses, businesses that because of their small size have difficulty getting financing from private sector banks. In addition, the bank's efforts have generated a surplus of $6.9 billion over the past two decades that has been sent to the U.S. Treasury to reduce the deficit.

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