On Senate Floor, U.S. Senator Tammy Baldwin to Deliver Call to Action for Wisconsin Manufacturing
“When Congress fails to do its job, hard-working people can lose their job as a result.”
House Inaction on Export-Import Bank Reauthorization Costing Wisconsin Jobs
WASHINGTON, D.C. – On the Senate floor this afternoon, U.S. Senator Tammy Baldwin will use the kick-off of National Manufacturing Day and Wisconsin Manufacturing Month to deliver a call to action for our manufacturing economy.
Senator Baldwin’s call for action comes as GE Power & Water announced it plans to stop manufacturing gas engines in Wisconsin and blamed the Waukesha closure on the House of Representatives not reauthorizing the Export-Import Bank.
“Unfortunately Congress has shown itself better at manufacturing one crisis after the next instead of working across party lines to strengthen American manufacturing,” Senator Baldwin said. “Two months ago, the Senate did its job and reauthorized the Export-Import Bank, which is an important tool that helps us create that level playing field, bringing fairness to global trade, and giving American manufacturers the resources they need to fight and win against their global competition. However, the House adjourned for the August recess without passing legislation to reauthorize the Export-Import Bank and has failed to take action for two months.”
On Wednesday, Republicans on the House Financial Services Committee voted in lock step to block an amendment to reauthorize the Export-Import Bank and Governor Walker has opposed reauthorization and called for the Export-Import Bank to be eliminated.
“These actions have real impacts on workers and they are being felt by Wisconsin workers and families right now. It is a stark reminder that when Congress fails to do its job, hard-working people can lose their job as a result,” Senator Baldwin said.
Since 2007, the Export-Import Bank has supported 27,131 Wisconsin jobs by helping 218 Wisconsin businesses, including 128 small businesses, export $5 billion worth of goods and products made in Wisconsin. In 2014 alone, the Export-Import Bank supported $210.2 million of Wisconsin exports, 46% of which were from small businesses. In 2014, the Export-Import Bank supported 3,340 small-business transactions, $27 billion in total U.S. export sales and 164,000 jobs.
The Export-Import Bank is not only a vital export tool for Wisconsin businesses, it is also an important tool for deficit reduction that returned $675 million to the U.S. Treasury last year.
Senator Baldwin has been a strong supporter of the Export-Import Bank and led a push for reauthorization this summer by traveling the state highlighting Wisconsin businesses that have benefited from support from the bank.
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