Maloney joins effort to force vote on Export-Import Bank

Apr 30, 2015
Press Release
Export-boosting bank and 164,000 American jobs it supports are on the chopping block

WASHINGTON – Congresswoman Carolyn B. Maloney (D-NY) today signed her name to a list of Democrats who are demanding a vote to extend the charter of the Export-Import Bank. Without Congressional action, the bank, which operates at no cost to taxpayers, will be eliminated on June 30. The discharge petition Maloney signed would require a vote on legislation to maintain the Bank once it achieves 218 signers.

“We’re just a month away from shutting down the Export-Import Bank, and that’s bad news for 164,000 workers across America,” said Maloney. “If the Majority Leader were to schedule a vote today, the legislation would pass with overwhelming support, as it always has. But those on the fringes of the Republican Party oppose the Bank for ideological reasons. There are companies across the district I represent and throughout the country who will be hurt if Congress doesn’t act. It’s time for the majority to set aside their ideology, and do what’s right for our economy.”

The Export-Import Bank helps level the playing field for American manufacturers hoping to compete and sell their goods in foreign markets. At absolutely no cost to taxpayers, the bank directly supported 164,000 American export-related jobs in the last year alone, and has created or sustained 1.3 million private sector jobs since 2009.

The discharge petition calls for a vote on H.R. 1031, the Promoting U.S. Jobs Through Exports Act – a bill to reauthorize the Export-Import Bank’s charter for seven years and restore certainty to the bank’s future. The House Republican Leadership has refused to bring the bank’s reauthorization to the floor even though H.R. 1031 has the support of 190 Democratic Members, and a separate measure to reauthorize the bank has the support of over 60 Republican Members. The discharge petition will require the House to consider the reauthorization legislation once a majority of Members of Congress have signed the petition.

On April 21, Maloney testified before the New York City Council Committee on Economic Development during a hearing on the importance of the bank to New York’s businesses. Local business leaders called on Congress to extend the bank’s charter because of the significant and positive impact the institution provides to New York’s economy.