Congresswoman Laura Richardson Applauds the Passage of H.R. 2072, "Securing American Jobs Through Exports Act of 2011"
Press Release
Today the U.S. House of Representatives passed the "Securing American Jobs Through Exports Act of 2011" with overwhelming bipartisan support. This legislation provides a three-year reauthorization of the Export-Import Bank's charter and lending authority, recognizing the important role Export-Import Bank plays for U.S. exporters. Additionally, certain financial reforms included in the legislation will ensure that the Bank remains fiscally sound as it continues to provide revenue to the U.S. Treasury, supports U.S. export sales, and preserves high value manufacturing and service jobs.
"I recognize the important role the Ex-Im Bank plays for U.S. exporters, and the thousands of jobs it creates and supports, which is why I fully supported reauthorization of the Bank's charter," said Congresswoman Richardson adding "I'm certain the passage of this legislation will have a positive impact towards job preservation and creation in my Congressional District in California, District 37, which is home to over a dozen U.S. exporters."
Since 1934, the Export-Import Bank has served as the principal government agency responsible for aiding the export of American goods and services, thereby creating and sustaining U.S. jobs.
With its 75 year track-record, the Export-Import Bank is projected to pump $900 million into the U.S. Treasury as well as facilitate the export of hundreds of billions of dollars of U.S. made goods, which is anticipated to directly attribute to the creation and preservation of hundreds of thousands of American jobs. In 2011 alone, the bank facilitated sales abroad supported 290,000 American jobs.
Congresswoman Richardson said, "At a time when exports are increasingly critical to the economy and job recovery, passage of H.R. 2072, the Securing American Jobs Through Exports Act of 2011, sends the message that American exporters have the full support of the United States government to level the playing field in global markets and create jobs at home."
Exporters in California's 37th District include a diverse group of small businesses as well as minority owned businesses which support nearly 100 million dollars of export sales annually.
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