–Gov. Jay Nixon on penned a letter Wednesday to the leadership of the U.S. Congress calling on them to reauthorize the U.S. Export-Import Bank’s charter, which is scheduled to expire later this year.
“Failure to reauthorize the agency’s operations will place Missouri companies at a serious disadvantage, leading to fewer exports and reissuing conned job growth in our state,” the Missouri Democrat wrote.
He sent the letter to the bipartisan leadership of both chambers, including House Speaker John Boehner, Senate Leader Harry Reid, House Minority Leader Nancy Pelosi, and Senate Minority Leader Mitch McConnell.
Nixon said the Export-Import Bank “has provided a vital export finance took that has helped Missouri companies sell their products overseas,” including $1 billion in exports from 100 businesses over the past five years.
Efforts to renew the bank have been supported by Republicans like Missouri U.S. Sen. Roy Blunt and Rep. Ann Wagner, but have exposed tension in the ranks on both sides of the aisle. Tea Party Republicans and Democrats concerned about environmental issues have raised concerns about the bank.
If the bank’s charter is not extended, it will expire at the end of September.