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President Signs Historic Seven-Year Long-Term Reauthorization of EXIM

30 Dec, 2019


President Donald J. Trump signed legislation recently that reauthorized the Export-Import Bank of the United States (EXIM) for a historic length of seven years. The bipartisan legislation approved by Congress achieved two important goals: providing certainty to American businesses and workers that EXIM is fully open for business, and giving clear direction to focus on the economic and national security challenges from China. 
 
"I thank President Trump for making history today by signing into law the longest reauthorization of EXIM in the agency's 85-year history," said EXIM President and Chairman Kimberly A. Reed. "The legislation signed into law by the President also directs EXIM to focus on the important economic and national security challenges posed by China, which at my direction, EXIM has prioritized since my confirmation in May. I am proud to have the support of President Trump and Congress in this undertaking." 
 
"I also thank Senate Banking Committee Chairman Mike Crapo (R-ID) and Ranking Member Sherrod Brown (D-OH), and House Financial Services Committee Chairwoman Maxine Waters (D-CA) and Ranking Member Patrick McHenry (R-NC) for their leadership in sending this bipartisan legislation to the President's desk," said Chairman Reed. 
 
Chairman Reed added, "I am honored to work with the President, our administration colleagues, the bipartisan leadership in Congress, and diverse stakeholders as we focus on empowering U.S. businesses and workers to compete and win in the global marketplace. I also would like to recognize my nearly 400 EXIM colleagues, including fellow board members Spencer Bachus III and Judith Pryor. We have worked hard to deliver on the goals that I announced on my first day at EXIM: fully reopening, reforming, and reauthorizing EXIM, thereby providing positive results for America's workers and businesses, while protecting the American taxpayer. Today's historic reauthorization of EXIM is a major victory for our nation and for keeping America strong, and I thank all who made it possible, most of all President Trump." 
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