Main Street Urges Re-Authorization of the Export-Import Bank

Statement by former U.S. Rep. Steve LaTourette (R-OH), President of the Main Street Partnership

(Washington, DC) – Today, the Main Street Partnership urged Congress to re-authorize the Export-Import Bank.  Former U.S. Rep. Steve LaTourette (R-OH), President of the Main Street Partnership, issued the following statement:

“In 2013, the Export-Import Bank supported more than $37 billion in export sales for American companies.  These sales, from 3,800 companies, supported almost 205,000 jobs.  The Export-Import Bank is a powerful tool for growing our economy and creating American jobs.

“In the incredibly tight budget climate of Washington today, the Export-Import bank is an even more powerful tool because the Export-Import Bank costs tax payers nothing.  Indeed, the bank generates enough fees to not only offset its costs but it has actually contributed billions in surpluses to the US Treasury.

“Opponents of re-authorization have called the bank ‘corporate welfare.’  While such accusations may make for good fundraising blasts to donors or good fodder for talk radio, they do not represent the reality of the long and successful history of the Export-Import Bank.  The bank has an almost 80 year track record of making investments in American companies that have created millions of American jobs.

“There was a time when the Export-Import Bank was re-authorized with wide bipartisan margins.  At a time when Congress is struggling to show the American people that it can work, can’t we at least come together on an issue like this?  The Main Street Partnership strongly urges Congress to pass re-authorization of the Export-Import Bank.”

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The Main Street Partnership is dedicated to promoting and building a pragmatic, thoughtful, fiscally conservative, and inclusive “Governing Majority,” where political debate is encouraged to promote solutions to improve the lives of all Americans. Embracing the full spectrum of center-right ideologies and values in order to build coalitions, the Main Street Partnership is the largest organization of elected leaders who are in the mold of Abraham Lincoln, Teddy Roosevelt, and Ronald Reagan. For more information on the Main Street Partnership, visit our website at www.republicanmainstreet.org.

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