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| 1 | HOUSE RESOLUTION
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| 2 | WHEREAS, Illinois is the largest exporting state in the | ||||||
| 3 | Midwest and the fifth largest in the United States; and
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| 4 | WHEREAS, The Export-Import Bank of the United States is the | ||||||
| 5 | official export credit agency of the United States; and
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| 6 | WHEREAS, The Export-Import Bank finances sales of United | ||||||
| 7 | States exports to international buyers while insuring foreign | ||||||
| 8 | purchases of American goods for customers who do not want or | ||||||
| 9 | cannot accept credit risk; and
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| 10 | WHEREAS, The Export-Import Bank is crucial for small and | ||||||
| 11 | large businesses to compete in the global market, increase | ||||||
| 12 | their exports, stimulate job creation, and contribute to the | ||||||
| 13 | growth of the Illinois economy; and
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| 14 | WHEREAS, Since 2007, over 383 Illinois businesses have | ||||||
| 15 | exported their products overseas thanks to the Export-Import | ||||||
| 16 | Bank, of which 250 are small businesses, 22 are minority-owned, | ||||||
| 17 | and 25 are owned by women; and | ||||||
| 18 | WHEREAS, The Export-Import Bank has helped support exports | ||||||
| 19 | as the fastest-growing segment of the Illinois economy, | ||||||
| 20 | accounting for nearly 14% of the Gross State Product and | ||||||
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| 1 | sustaining 210,913 jobs; and
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| 2 | WHEREAS, Fifty-nine countries, including China, France, | ||||||
| 3 | Germany, Brazil, Canada, and Korea, have export credit agencies | ||||||
| 4 | that are similar to the Export-Import Bank; and
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| 5 | WHEREAS, The majority of Illinois businesses do not have | ||||||
| 6 | the global presence necessary to compete against foreign | ||||||
| 7 | companies that receive support from their national export | ||||||
| 8 | credit agency; and | ||||||
| 9 | WHEREAS, The Export-Import Bank is financially | ||||||
| 10 | self-sustaining, resulting in almost $2 billion of profit for | ||||||
| 11 | taxpayers that has helped to reduce the federal deficit over | ||||||
| 12 | the last 2 years; and
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| 13 | WHEREAS, The Export-Import Bank helps Illinois businesses | ||||||
| 14 | to successfully compete in the global economy against foreign | ||||||
| 15 | corporations; and
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| 16 | WHEREAS, Without swift action, American industries will be | ||||||
| 17 | at a competitive disadvantage to foreign competitors in the | ||||||
| 18 | global marketplace, hindering the economic vitality of | ||||||
| 19 | Illinois; and | ||||||
| 20 | WHEREAS, The Export-Import Bank provides the necessary | ||||||
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| 1 | tools for economic recovery, future growth, and jobs for the | ||||||
| 2 | State of Illinois; therefore, be it
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| 3 | RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE | ||||||
| 4 | NINETY-NINTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we | ||||||
| 5 | strongly encourage Congress to pass a long-term | ||||||
| 6 | reauthorization of the Export-Import Bank before its charter | ||||||
| 7 | expires on June 30, 2015; and be it further
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| 8 | RESOLVED, That a suitable copy of this resolution be | ||||||
| 9 | delivered to the members of the Illinois congressional | ||||||
| 10 | delegation.
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