Rep. Mark Amodei, R-Nv., has joined the bi-partisan coalition of members trying to force a floor vote on reauthorization of the Export-Import Bank.
He said when the bank’s authorization expired June 30, it left businesses throughout Nevada and the nation without the financing tool.
“Since 2007, Ex-Im, has authorized and insured $180 million in export value in Nevada, 88 percent of it exported from northern Nevada,” he said. “Ex-Im creates American Jobs. It creates Nevada Jobs,” he said.
He said since 1990, the bank returned $7 billion more than its appropriations and supported 164,000 jobs, 90 percent in small businesses.
“That’s not corporate welfare; that’s a success story and every day we don’t reauthorize it means Nevada jobs are on the line,” said Amodei.
Republican opponents say the bank is a “slush fund for the government to pick favorites and give taxpayer dollars to a handful of well-connected special interests.”
They said the bank is nothing more than corporate welfare.
Nevada Republican Joe Heck is among the opponents of reauthorization.
Amodei said the bank loans to foreign buyers of American goods when private sector lenders can’t provide financing. He said the default rate was less than a quarter of a percent last year.
He said the bank has supported sales and jobs at 21 northern Nevada businesses.