Tammy Baldwin
Press Release

House Inaction on Export-Import Bank Reauthorization Costing Wisconsin Jobs

GE Power & Water announces plans to stop manufacturing gas engines in Wisconsin.

By - Sep 28th, 2015 12:03 pm

WASHINGTON, D.C. – U.S. Senator Tammy Baldwin today renewed her call for the Republican majority in the House of Representatives to stop stalling reauthorization of U.S Export-Import (Ex-Im) Bank.

Senator Baldwin’s call for action comes as GE Power & Water announced it plans to stop manufacturing gas engines in Wisconsin and blamed the Waukesha closure on the House of Representatives not reauthorizing the Ex-Im Bank.

At the end of July, the U.S. Senate passed reauthorization of the Ex-Im Bank as part of a long-term transportation bill. However, the House of Representatives adjourned for the August recess without passing legislation to reauthorize the Ex-Im Bank and have failed to take action since.

“The failure of the House to act is now costing Wisconsin jobs,” Senator Baldwin said. “When American businesses have a level playing field, they can compete against anyone. The Export-Import Bank is an important tool that helps us create that level playing field, bringing fairness to global trade, and supporting American businesses so they can create jobs and grow. The Republican majority in the House needs to do what the Senate did nearly two months ago and take action on the Export-Import Bank before more Wisconsin jobs are lost to other countries.”

Since 2007, the Ex-Im Bank has supported 27,131 Wisconsin jobs by helping 218 Wisconsin businesses, including 128 small businesses, export $5 billion worth of goods and products made in Wisconsin. In 2014 alone, the Ex-Im Bank supported $210.2 million of Wisconsin exports, 46% of which were from small businesses. In 2014, the Ex-Im Bank supported 3,340 small-business transactions, $27 billion in total U.S. export sales and 164,000 jobs.

The Ex-Im Bank is not only a vital export tool for Wisconsin businesses, it is also an important tool for deficit reduction that returned $675 million to the U.S. Treasury last year.

Senator Baldwin has been a strong supporter of the Ex-Im Bank and led a push for reauthorization this summer by traveling the state highlighting Wisconsin businesses that have benefited from support from the bank.

In June, Senator Baldwin visited Wisconsin companies Appvion, Inc. in Appleton,  Fristam Pumps USA in Middleton and Prolitec, Inc. in Milwaukee to call for reauthorization of the Ex-Im Bank.

Press Releases by Tammy Baldwin

Tammy Baldwin

U.S. Senator Tammy Baldwin Announces $1.5 Million to Expand Apprenticeship Opportunities Across Wisconsin

“Apprenticeship initiatives are one of the most effective vehicles for responding to the workforce readiness needs of business and industry,” said Senator Baldwin.

Tammy Baldwin

U.S. Senator Tammy Baldwin Calls on Wisconsin Attorney General Brad Schimel to Get the Job Done on Wisconsin’s Longstanding Rape Kit Backlog

More than one year after Wisconsin Justice Department received federal investments, reports show state still has 6,000 kit backlog

Tammy Baldwin

U.S. Senator Tammy Baldwin Statement on Investigations into Madison and Milwaukee Social Security Offices

For the past year, Baldwin has worked on behalf of whistleblowers and raised questions about wrongdoing, harassment and retaliation

Tammy Baldwin

U.S. Senator Tammy Baldwin Pushes for Economic Growth in Wisconsin with Small Business Innovation Act

National reform will support Wisconsin, which ranks last nationally in startup activity and entrepreneurship growth

Tammy Baldwin

We Must Do More to Provide Debt Relief & Support to Students, Veterans Suffering from Wide-Ranging Impacts of ITT Tech Closure

Senators now call on ED to “use its existing legal authority” to increase total debt relief and support available to former ITT Tech students

Tammy Baldwin

Baldwin, McCain, Schakowsky Introduce Reform Requiring Transparency in Prescription Drug Price Increases

The bipartisan and bicameral FAIR Drug Pricing Act takes the first step to address skyrocketing prescription drug costs

See More Releases

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>