CASTRO APPLAUDS EXPORT-IMPORT BANK REAUTHORIZATION
Washington, D.C. - Today, Congressman Joaquin Castro (TX-20) released the following statement after voting in favor of H.R. 597, legislation to reauthorize the U.S. Export-Import (Ex-Im) Bank's charter, which has been expired since June 30 of this year:
"Thanks to today's vote, more than 135,000 Texas workers whose businesses rely on the Ex-Im Bank for support can breathe a sigh of relief. The reauthorization of the Bank's charter ensures that more than 1,600 exporters in our state will receive the financing they need to remain competitive with businesses overseas. Not only is the Ex-Im Bank pro-business, it costs American taxpayers no money. Today's vote is a win for Texas and for the U.S. economy's future strength and resilience.
"After months of inaction, a bipartisan group of 175 Democrats and 42 Republicans signed a discharge petition bringing the Ex-Im reauthorization legislation to the House floor for a vote. Such instances of cooperation and productivity are too few and far between in this Republican-led Congress. I am eager for today's collaboration to prompt more progress for hardworking Americans."
Earlier this year, Congressman Castro and fellow members of the Texas Democratic Delegation sent a letter urging U.S. House of Representatives Speaker John Boehner (OH-08) to allow a vote on the reauthorization of the Export-Import Bank.
The Ex-Im Bank supports more than 135,000 Texas jobs, assisting 1,647 Texas exporters, including 880 small businesses, 127 minority-owned businesses, and 58 women-owned businesses. Since 2007, the bank has provided financing for $22 billion of Texas exports, with a total export value of $31 billion. In Congressman Castro's 20th District, the Ex-Im Bank provides financing support to 22 exporters, including 15 small businesses.
H.R. 597 passed the House of Representatives by a vote of 313 to 118.