Carolyn Maloney: “I submit the following materials in support of H.R. 2072, the Export-Import Bank Reauthorization Act, as amended. May 4…”

“I submit the following materials in support of H.R. 2072, the Export-Import Bank Reauthorization Act, as amended. May 4, 2012. To Members of the United States Congress: We are writing to urge your support for reauthorization of the Export-Import (Ex-Im) Bank of the United States, and a simultaneous increase in its lending cap. Ex-Im Bank--which is set to expire on May 31--is a vital resource in helping U.S. companies both large and small to successfully engage in international trade. The Ex-Im Bank is a self-sustaining federal agency that assists In financing the export of U.S. goods and services to international markets. In the five years since Congress last reauthorized the Bank's operations, it has returned about $3.4 billion to the U.S. Treasury above and beyond the cost of its operations. For the fiscal year ending on September 30, 2011, Ex-Im Bank supported $40.6 billion worth of U.S. exports at more than 3,600 U.S. companies, helping to create or sustain 290,000 export-related U.S. jobs. This past December, Congress extended Ex-Im Bank's authorization until May 31 at its current lending ceiling of $100 billion. Due to unprecedented demand for export financing over the last few years, Ex-Im Bank estimates that it will reach this limit well before May. As a result, unless Ex-Im Bank is reauthorized quickly and at an increased lending cap, it will be forced to halt new transactions-- depriving U.S.…”