Obama Urges Ex-Im Bank Reauthorization to Fuel US Economic Recovery
Small business owners and others in the trade community that rely on state financing in order to export goods should press lawmakers to reauthorize the Export-Import Bank while Congress is back in home districts for August, said President Barack Obama…
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in an Aug. 23 weekly address that focused on the credit agency. “Small business owners have had to overcome a lot these past several years. We all saw local businesses close their doors during the crisis,” said Obama. “And in the past few years, we’ve seen more and more open their doors and do their part to help lead America’s comeback. At the very least, they deserve a Congress that doesn’t stand in the way of their success.” House and Senate lawmakers are at loggerheads over reauthorization legislation, with many Republicans arguing the credit agency actually hampers U.S. economic growth (see 14073111). Senate Majority Leader Harry Reid, D-Nev., is seeking reauthorization as one of the chamber’s main priorities in September (see 14080509). The bank’s charter expires on Sept. 30.