U.S. Sen. Dick Durbin took to the floor of the Senate Wednesday to call on his colleagues to pass legislation to reauthorize the Export-Import Bank.
The bank is used by thousands of businesses across the country to access new markets, boost international sales and ultimately succeed in the global economy. The transactions support 164,000 American jobs all while returning $7 billion to the U.S. Treasury over the last 20 years. Durbin says it’s a win-win.
“The bank supports $27.4 billion in exports and guess what? It doesn’t cost the taxpayers a penny,” Durbin said. “It actually makes money. Money that’s returned to the U.S. Treasury for other proposes or to reduce our debt.”
Current legislation is set to expire at the end of the month.
Some conservative lawmaker and groups want to kill the bank saying its crony capitalism that mostly serves the interest of big exporters.
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