Resolution on the Reauthorization of the U.S. Export-Import Bank
WHEREAS, exports have accounted for roughly one-third of U.S. economic growth since 2009, and overseas markets are increasingly important for small-and-medium sized businesses, as well as large corporations; and
WHEREAS, limited access to export capital is a major obstacle for businesses, especially small businesses, to export their goods and services; and
WHEREAS, small businesses are the nation’s leading job creators and make up 98 percent of all U.S. exporters, and 90 percent of Ex-Im transactions directly benefit small businesses and suppliers across all 50 states; and
WHEREAS, in 2013 alone, Ex-Im Bank helped 3,800 companies earn more than $37 billion in export sales, which supported more than 205,000 American jobs; and
WHEREAS, the Ex-Im Bank acts as a lender of last resort and thereby does not compete with commercial banks, but instead fills export financing gaps through its loan, guarantee, and insurance programs when the private sector is unable or unwilling to do so; and
WHEREAS, the Ex-Im Bank’s effectiveness in enhancing American competitiveness comes at no cost to the taxpayer, its services generate adequate revenue to offset its operating costs, and all surplus funds, nearly $1 billion in 2013, are transferred to the U.S. Treasury which reduces the U.S. federal deficit; and
NOW, THEREFORE BE IT RESOLVED, that The Council of State Governments urges the U.S. Congress to pass reauthorization of Ex-Im Bank before the current authorization extension expires September, 2014.
Adopted this 13th Day of August, 2014 at the CSG National Conference in Anchorage, Alaska.
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