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SENATE RESOLUTION

 
2    WHEREAS, The Export-Import Bank of the United States (Ex-Im
3Bank) is the official export credit agency of the United
4States; and
 
5    WHEREAS, The mission of the Ex-Im Bank is to ensure that
6United States companies have access to export sales through
7working capital guarantees, loan guarantees, export-credit
8insurance, and financing to help foreign buyers purchase U.S.
9goods and services; and
 
10    WHEREAS, The Ex-Im Bank does not compete with private
11institutions because it finances exports that the private
12sector is unwilling or unable to undertake alone; and
 
13    WHEREAS, The Ex-Im Bank has generated nearly $3 billion in
14fees from its customers over the past 3 fiscal years, including
15$674.7 million in FY 2014; these funds were deposited in the
16U.S Treasury to reduce the U.S. deficit and indebtedness; and
 
17    WHEREAS, Eighty-five percent of Ex-Im Bank transactions
18benefit small businesses; and
 
19    WHEREAS, Between 2007 and 2014, the Ex-Im Bank supported
20382 Illinois companies including 246 small companies employing

 

 

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135,000 workers that exported products; and
 
2    WHEREAS, These 382 Illinois companies sold more than $8
3billion in goods and services across the globe; and
 
4    WHEREAS, Since FY 2012, the Ex-Im Bank has supported nearly
5$115 billion in exports; and
 
6    WHEREAS, The Ex-Im Bank has supported more than 1.3 million
7American jobs in all 50 states since FY 2009; and
 
8    WHEREAS, Illinois exported a record $68.2 billion of goods
9and services in 2014; and
 
10    WHEREAS, Illinois companies, particularly in the
11manufacturing and agricultural sectors, rely on the sales of
12products across the world; and
 
13    WHEREAS, Nearly 90% of world trade relies on trade finance
14provided by 60 export credit agencies, according to the
15Congressional Research Service; and
 
16    WHEREAS, The Ex-Im Bank's statutory authority has been
17renewed many times over the past 80 years under both Democrat
18and Republican administrations; and
 

 

 

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1    WHEREAS, The Ex-Im Bank's statutory charter is scheduled to
2expire on June 30, 2015; and
 
3    WHEREAS, Expiration of the Ex-Im Bank's authority would
4stop operations and prevent Illinois companies from selling
5billions of dollars in products; and
 
6    WHEREAS, Expiration of the Ex-Im Bank will have a negative
7impact on the Illinois economy, its communities, and its
8workers; therefore, be it
 
9    RESOLVED, BY THE SENATE OF THE NINETY-NINTH GENERAL
10ASSEMBLY OF THE STATE OF ILLINOIS, that we urge President
11Barack Obama and members of the United States Senate and House
12of Representatives to reauthorize the United States
13Export-Import Bank before June 30, 2015; and be it further
 
14    RESOLVED, That suitable copies of this resolution be
15provided to U.S. House Speaker John Boehner, House Minority
16Leader Nancy Pelosi, Senate Majority Leader Mitch McConnell,
17Senate Minority Leader Harry Reid, U.S. Senator Dick Durbin,
18U.S. Senator Mark Kirk, and every member of the Illinois
19Congressional Delegation.