More On Ex-Im Bank

More On Ex/Im Bank. I’m Greg Martin with today’s Fruit Grower Report.

U.S. Senator Maria Cantwell wants to see Washington’s export business thrive. To that end she has been calling for the reauthorization of the Export-Import Bank which supports about 85,000 jobs overall in Washington state.

CANTWELL: Three weeks ago I introduced bipartisan legislation to reauthorize the Export-Import Bank with several of my colleagues for five years. And we’re here today to say that when the Senate returns in just a few weeks that we should vote on that as one of the first pieces of action to get that done.

The Senator is adamant about making sure that it is a five year reauthorization and not just a 3 or 6 month extension.

CANTWELL: What we really need is a five year program that people can count on, know that it is there and that it will be predictable.So we are really urging our senate colleagues and the House to take up this legislation, meet the deadline and pass a five year extension.

With one in three jobs supported by trade, Washington state would be the hardest hit state in the nation if the bank is not renewed.

CANTWELL: It also drives tourism. It drives lodging tax dollars, everything and that helps our economy. The key point is, without the Export-Import Bank you are not going to have the tool to assure the financiers and others that these deals will be honored.

And Cantwell says this doesn’t cost the U.S. anything and in fact returns a billion dollars to the economy.

That’s today’s Fruit Grower Report. I’m Greg Martin on the Ag Information Network.