House votes to approve reauthorization of Export-Import Bank through historic ‘discharge petition’ maneuver

WASHINGTON, D.C. – Today the House of Representatives successfully passed H.R. 597, the Reform Exports and Expand the American Economy Act, to reauthorize the Export-Import Bank of the United States until 2019.

In a bipartisan vote of 313-118, the House of Representatives approved final passage of the export credit authority. The bill will now go to the Senate for their consideration.

“Today politics stepped aside, and compromise and cooperation won the day,” Heck said. “I’ve sat on the House Financial Services Committee for three years demanding that we get this done. Today we showed that no committee chairman can get in the way of the will of the people.” 

The Export-Import Bank is the nation’s official export credit agency and a tool that helps companies in Washington state and nationwide sell products overseas and create jobs. Since the bank’s authorization lapsed on June 30, 2015, the bank has been forced to stop its assistance to U.S. exporters -- threatening export deals for more than 100 exporters in Washington state.

In 2014, the Ex-Im Bank supported $27.5 billion in export sales and 164,000 jobs, of which tens of thousands are in Washington state. Small businesses transactions were nearly 90 percent of the total transactions of the Export-Import Bank in 2014.

“The Senate must immediately take up this important legislation,” Heck added. “I urge Majority Leader McConnell to listen and respect the numerous, common-sense voices in support of this job-creating tool. The longer we delay and the bank is closed, the more jobs we lose as a result of our inaction. ”

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