Congressman Cleaver Meets with Local Exporters and Export-Import Bank Officials
Congressman Cleaver meets with Mark Klein, Export-Import Bank Regional Director from Chicago, center, and Jeff Baker of GE, right, and other local exporters.
KANSAS CITY, MO – Earlier today, Congressman Cleaver met with local businesses from across Missouri's Fifth District, as well as officials from the Export-Import (Ex-Im) Bank. They discussed the current status and hyper-partisan political climate surrounding the Ex-Im Bank, as well as what the bank can do for local businesses.
Other countries are salivating at the prospect of what might happen here. We will face a massive exit of jobs in Missouri's Fifth District. And businesses will be forced to close their doors. These are just some of the dire warnings from area business leaders, who are fearing the worst, as the reauthorization of the Export-Import Bank of the United States is hotly debated in Washington.
"This is the most important obscure issue in Washington today," said Congressman Emanuel Cleaver, II, who called the meeting to hear from constituents and bring attention to this critical issue.
The meeting, at Kansas City's Chamber of Commerce, concluded this afternoon, with various local business leaders, and the Regional Director of the Export-Import Bank of the U.S., Mark Klein, who flew in from Chicago at the Congressman's request.
The Export-Import Bank of the United States is the nation's official export credit agency. It functions as an independent, self-sustaining government agency, created over 80 years ago to support American jobs by providing a variety of financial products to aid the export of American goods and services. If Congress does not act soon, the Bank may face a lapse in authorization.
The Bank was last reauthorized in 2012, and has been reauthorized on a bipartisan basis 16 times since 1945.
"Over the last five years, the Ex-Im Bank has supported 1.2 million private-sector, American jobs and generated over $2 billion for U.S. taxpayers, all while costing the taxpayer nothing," explained Congressman Cleaver. "Reauthorization of the Ex-Im Bank is good for Kansas City and good for small businesses, facilitating job growth at home and allowing us to compete in an increasingly competitive global marketplace."
One local, small business president told the Congressman a reauthorization would mean tripling his workforce, while a lapse will mean cutting jobs immediately.
Another articulated his apprehension about the future of the local economy, saying, "A lapse would mean no further investments for many of our small businesses, while others will simply have to close their doors altogether. Failing to reauthorize the Bank will mean growth comes to a stop, it will cut us off at the knees."
The Ex-Im Bank does not compete with other lenders in the private sector, but rather fills gaps when commercial lenders are unwilling or unable to provide financing. Approximately 90% of the Bank's transactions involved small businesses. Additionally, this comparatively small government agency provides financing and insurance not available to some companies from private lenders, and helps U.S. businesses compete in the global market on a level playing field, where many other countries have their own versions of the Ex-Im Bank. Congressman Cleaver, a member of the House Financial Services Committee, urged his colleagues to reauthorize the Ex-Im Bank in a hearing last month and will continue to fight for this here at home -- and in Washington.
Emanuel Cleaver, II is the U.S. Representative for Missouri's Fifth Congressional District, which includes Kansas City, Independence, Lee's Summit, Raytown, Grandview, Sugar Creek, Blue Springs, Grain Valley, Oak Grove, North Kansas City, Gladstone, Claycomo, and all of Ray, Lafayette, and Saline Counties. He is a member of the exclusive House Financial Services Committee and also serves as a Senior Whip of the Democratic Caucus.
For more information: Michele Rooney – michele.rooney@mail.house.gov(816) 820-9755