Release Date: May 04, 2012Contact: 888-249-NEWS
U.S. Chamber’s Donohue Praises House Leaders for Reaching Deal on Ex-Im
Urges Congress to Swiftly Pass the Legislation
WASHINGTON, D.C. — U.S. Chamber of Commerce President and CEO Thomas J. Donohue issued the following statement on the compromise legislation offered by Majority Leader Eric Cantor and Democratic Whip Steny Hoyer to reauthorize the Export-Import Bank of the United States (Ex-Im):
“This is great news for thousands of American workers, businesses of all sizes, and taxpayers, who can cheer the fact that this bill will reduce the deficit by hundreds of millions of dollars.
“When other countries are providing their own exporters with an estimated $1 trillion in export finance—often on terms more generous than Ex-Im can provide—failure to reauthorize Ex-Im would amount to unilateral disarmament and cost tens of thousands of American jobs.
“This bill will guarantee a level financial playing field in export markets and ensure transparency in Ex-Im’s operations. For that reason, the Chamber urges Congress to swiftly pass this bill to reauthorize Ex-Im.”
The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.