Article from Congressman Charlie Dent of Pennsylva
Post# of 22940
Posted On: 08/15/2016 11:04:52 PM
Article from Congressman Charlie Dent of Pennsylvania detailing his support of the Ex-Im Bank:
Export-Import Bank means jobs for Americans
Insert-tag-herewww.ldnews.com/story/opinion/2016/08/12/export-import-bank-means-jobs-americans/88616054/
Between 2011 and 2015, 246 businesses in Pennsylvania sought financing through the Ex-Im bank. That figure includes 13 businesses in the 15th District. In total, the Bank supported export goods valuing over $5 billion statewide during that time period. Dismantling the Ex-Im bank, as Mr. Shenk is advocating, would have an extremely negative impact on these companies and the thousands of people they employ – as well as on the companies up and down the supply chain for those manufacturers.
The reauthorization of the Ex-Im Bank of the United States received support from the majority of the Republicans in the House. 127 Republicans supported it as opposed to 117 who opposed it when it was first brought to the floor. When it was engrossed in the Highway Bill that total increased to 178 Republican votes. In the Senate it gained the support of 40 Republicans with only 14 opposing.
The irony of the determination by those wanting to shutter the Ex-Im bank is that it actually delivers back to the taxpayers. It puts money back into the Treasury through the repayment of loans and the payment of origination fees. For example, in FY 2015 the Bank returned $456 million to the Treasury. It is expected to return over $470 million this year.
Export-Import Bank means jobs for Americans
Insert-tag-herewww.ldnews.com/story/opinion/2016/08/12/export-import-bank-means-jobs-americans/88616054/
Between 2011 and 2015, 246 businesses in Pennsylvania sought financing through the Ex-Im bank. That figure includes 13 businesses in the 15th District. In total, the Bank supported export goods valuing over $5 billion statewide during that time period. Dismantling the Ex-Im bank, as Mr. Shenk is advocating, would have an extremely negative impact on these companies and the thousands of people they employ – as well as on the companies up and down the supply chain for those manufacturers.
The reauthorization of the Ex-Im Bank of the United States received support from the majority of the Republicans in the House. 127 Republicans supported it as opposed to 117 who opposed it when it was first brought to the floor. When it was engrossed in the Highway Bill that total increased to 178 Republican votes. In the Senate it gained the support of 40 Republicans with only 14 opposing.
The irony of the determination by those wanting to shutter the Ex-Im bank is that it actually delivers back to the taxpayers. It puts money back into the Treasury through the repayment of loans and the payment of origination fees. For example, in FY 2015 the Bank returned $456 million to the Treasury. It is expected to return over $470 million this year.
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