Congressman Cohen: Reauthorization of Export-Import Bank Critical for American Economy

[Washington, D.C.] – Congressman Steve Cohen (TN-09) released the following statement regarding today’s bipartisan House vote to reauthorize the Export-Import Bank of the United States, whose authorization lapsed on July 1, 2015 after Congress failed to renew its charter.

“The American manufacturers, small businesses and workers who rely on the Export-Import Bank are the backbone of our economy,” said Congressman Cohen. “Reauthorization of the Export-Import bank is critical for America’s business community to create jobs and compete and trade in the global marketplace. Since 2007, the bank has supported over $100 million in export sales from Memphis businesses, including nearly $17 million last year alone. I am pleased that Democrats and Republicans finally came together in a bipartisan fashion, and I was proud to vote to reauthorize the charter to strengthen our economy and create jobs. I commend Congressman Stephen Fincher for going against the great majority of his caucus and taking the lead on this issue.”

The bipartisan bill, H.R. 597, to reauthorize the Export-Import Bank was brought to the floor of the House of Representatives over the objection of the Chairman of the House Committee on Financial Services via a rarely used discharge petition signed by a coalition of 218 Republicans and Democrats. Congressman Cohen signed the discharge petition earlier this month. A discharge petition requires 218 signatures from House members to bring a bill to the House floor for a vote. Congressman Cohen voted for H.R. 597, which passed by a vote of 313 to 118.