Washington—Senator Dianne Feinstein (D-Calif.) today released the following statement on the upcoming expiration of the Export-Import Bank:
“Last year, Export-Import Bank financing supported 164,000 jobs nationwide and contributed $675 million to reducing the federal deficit. The Ex-Im Bank is a critical tool for many California businesses and must be reauthorized as soon as possible.
“Since 2010, the Ex-Im Bank has helped finance the export of goods and services for 898 California companies with a total export value of $21 billion. The vast majority of these companies—84 percent in 2015—are small businesses, a key driver for job creation. These companies simply can’t afford to have their export financing taken away.
“The Ex-Im bank can also help transform the energy economies of developing countries and drive the growth of renewable energy in the United States. Confronting climate change is a global challenge, so it makes no sense to handicap our international influence over this issue.
“I’m hopeful the Senate Majority Leader will make this issue a priority and allow the Senate to debate and reauthorize the Export-Import Bank as quickly as possible.”