Congress Passes Legislation Championed by Sen. Cramer for Longest EXIM Bank Reauthorization in History

Statement

Today, as part of the appropriations package, Congress passed the longest reauthorization of the Export-Import (EXIM) Bank in the bank's history. U.S. Senator and Senate Banking Committee member Kevin Cramer (R-ND) championed this effort and worked to ensure its inclusion in today's legislation.

"This is the longest reauthorization in EXIM history," said Senator Cramer. "EXIM is important for national security and critical to helping American businesses compete and win in the global marketplace. Today's legislation provides stability for business and workers while making modest reforms to improve the way the Bank runs. I thank the President and my colleagues for ensuring businesses in North Dakota and the United States can compete on a level playing field in the global market place."

Senators Kevin Cramer and Kyrsten Sinema (D-AZ) first introduced the Export-Import Bank Reauthorization Act of 2019 in July. Their bill -- which would have reauthorized the Bank for 10 years and enacted modest, operational reforms -- gained broad, bipartisan and industry support, garnering twice as many cosponsors as the previous reauthorization bill.

Senator Cramer worked with President Trump and Senate leaders to include these principles in today's appropriations package.

"Senator Cramer has been a tireless champion for the EXIM Bank, and I thank him for his leadership on the issue," said Senate Banking Committee Chairman Mike Crapo (R-ID). "He was integral in securing a long-term reauthorization of the Bank's charter, which not only provides much-needed certainty to industry, but will also help businesses in North Dakota and across the nation reach new markets, compete on a level playing field and create more jobs in America."

North Dakota benefits greatly from the EXIM Bank. Since 2014, North Dakota's total export value reached $38 million from machinery manufacturing sales, crop production sales, and plastic and rubber products.

Local business leaders offered their praise for Senator Cramer's work on EXIM.

"The EXIM Bank is a critical tool in the tool box to ensure that American exporters are all capable of competing globally," said Wahpeton's WCCO Belting President Thomas D. Shorma. "We appreciate all that Senator Cramer has done and is doing to support reauthorization."

"KMM and other small-to-medium sized manufactures are thankful for Senator Cramer's leadership which led to the longest reauthorization of the Export Import bank in its history," said Kildeer Mountain Manufacturing (KMM) Vice President of Business Development Kristin Hedger. "Small businesses play an integral role in the international markets and they rely on tools such as EXIM bank to provide the jobs that promote our quality of life in western North Dakota and across our nation."

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