Sean Patrick Maloney: “If we want to compete in the world economic arena, we must stand with the people who make the products which are…”

“If we want to compete in the world economic arena, we must stand with the people who make the products which are exported. American companies need to enter the trade battle well armed, and the best way we can arm them is by allowing the Export-Import Bank to continue its work. Since 1990, one-third of the total growth in U.S. output has been in exports. In other words, if we want the tremendous growth we are seeing at this point to continue, we need to be aggressive in promoting exports. The Export-Import Bank helps to level the playing field with U.S. exporters by using specific tools to make sure our industries are able to do business overseas. These tools include export credit insurance, guarantees on commercial loans for purchases of U.S. exports, and working capital guarantees to encourage banks to lend money to small exporters. The bank only provides these tools when the private sector does not or cannot.”