WASHINGTON – Ahead of a crucial vote in Congress, U.S. Senator Claire McCaskill has sent a letter to Missouri employers that directly benefit from resources made available through the federal Export-Import Bank, asking them to share their stories of how that funding has allowed them to create jobs in Missouri and compete in the global marketplace.
McCaskill sent the letter to companies that have grown their businesses with the help of Export-Import Bank resources. Without Congressional action, the authorization for the Export-Import Bank is set to expire on September 30.
“I am writing to you and other Missouri business leaders, because your company directly benefited from financing provided by the U.S. Export-Import Bank,” McCaskill wrote. “The Export-Import Bank gives U.S. companies a competitive edge and helps to level the playing field in an increasingly competitive global market … without reauthorization, other companies in Missouri and across the nation will lack this important tool that helps the U.S. create jobs and compete in the global market.”
The Export-Import Bank supports American jobs by helping to finance foreign sales of U.S. products through loan guarantees, direct loans, and credit insurance, all at no cost to taxpayers. Since 2009, the Export-Import Bank has supported $188 billion in U.S. exports and 1.2 million American jobs. The Export-Import Bank has supported $1 billion in exports from 96 Missouri companies since 2007. Nearly 85 percent of businesses supported by the Export-Import Bank are small and medium-sized businesses.
McCaskill continued in the letter: “I strongly support the reauthorization of the Export-Import Bank to help the thousands of Missourians who benefit from the Export-Import Bank. This month, the Senate is expected to take up legislation to extend the authorization of the Export-Import Bank. Without similar action from the House of Representatives, the authorization for the Export-Import Bank will expire, and U.S. businesses will lose this valuable resource. We cannot let this happen.”
McCaskill wrote to 91 Missouri companies, including: LMC Industries, Inc., Continental Commercial Products, LLC, Hunter Engineering Company, American Piping Products, Mark Andy, Inc., Mecs, Inc., Sulfa Treat Company, M-I, LLC, Ellington Industrial Supply, Inc., Lumber Specialists, Inc., North American Natural Resources, Inc., Continental Manufacturing Company, Flex-O-Lite, Inc., International Ingredient Corporation, Koller Enterprises, Inc., Semi-bulk Systems, Inc., Biomerieux, Inc., Everwear, Inc., Synergetics USA, Inc., True Fitness Technology Inc., BBC Industries Inc., American Railcar Industries Inc., Chemical Piping Systems, Inc., Patriot Machine, Inc., Bunge Mextrade LLC., Camie Campbell, Inc., Carboline Company, Children’s Factory, Inc., Duke Manufacturing Co., Emerson Electric (Us) Holding Corporation, Filtration Technologies, LLC. Global Systems Inc., The Gund Company, Inc., Hager, C. & Sons Hinge Manufacturing Company, Intoximeters Inc., Lange-Stegmann Company, M K T Manufacturing Inc., Marquip Ward United Inc., Packaging Concepts Inc., Ribus, Inc., Roeslein & Associates, Inc., S.M. Arnold, Incorporated, Sales Resource Inc., Smith & Loveless Inc., Eastman Chemical Company (formerly Solutia Inc.), Steretaxis, Inc., Terrasource Global Corporation, Treloar Enterprises International Inc., Weber Industries Inc., Willert Home Products, Inc., Williams Patent Crusher and Pulverizer Co., Inc., Zisser Tire Company Incorporated, Elemental Holdings, Ace Manufacturing & Parts Co., Spec-Tech Industrial Electrics, Inc., Fike Corporations, Tarmac, Inc., Texas Merchandising, Inc., Mike Brown Enterprises, Inc., Garden City Plastics Equipment And Supply Co Inc., Black & Veatch, Gavilon (formerly Debruce Feed Ingredients, Inc.), Honeywell International, Inc., Junk Architects Pc, Labconco Corporation, Polymeric Imaging, Inc., Southwest Technologies, Inc., Stuppy, Incorporated, Sustainable Community Development, LLC, Western Forms, Inc., Woodcredit, Inc. Dba Timberking, Sterling Deaerator Co, Sub-Technologies, Inc. /Dba/Sub-Tech USA, Moore Fans LLC, ProEnergy Holdings, Inc., K & W Popcorn Inc., 3d Corporate Solutions, LLC, Custom Metalcraft, Inc., Executive Coach Builders, Inc., International Division, Inc., Paul Mueller Company, and Tuthill Corporation, Glen Martin Engineering, Inc., Hubbell Power Systems, Inc., Environmental Dynamics International, Addison Biological Laboratory, Inc., Butler, Ja Companies Inc. (Prime Performance Nutrition), Environmental Sampling Technologies, Wireco Worldgroup Inc., Agxplore International Inc. Si03, Inc., and American Ramp Company.
McCaskill’s letter appears below:
I am writing to you and other Missouri business leaders, because your company directly benefited from financing provided by the U.S. Export-Import Bank. The Export-Import Bank gives U.S. companies a competitive edge and helps to level the playing field in an increasingly competitive global market. The authorization for the Export-Import Bank is set to expire on September 30, 2014, unless action is taken by Congress. Without reauthorization, other companies in Missouri and across the nation will lack this important tool that helps the U.S. create jobs and compete in the global market.
The Export-Import Bank supports U.S. jobs by helping to finance foreign sales of U.S. products through loan guarantees, direct loans, and credit insurance, all at no cost to taxpayers. Since 2009, the Export-Import Bank has supported $188 billion in U.S. exports and 1.2 million American jobs. Nearly $1 billion in export financing support has assisted Missouri companies. But the Export-Import Bank has not just helped a few large multinational companies. Nearly 85 percent of businesses supported by the Export-Import Bank are small and medium-sized businesses.
I strongly support the reauthorization of the Export-Import Bank to help the thousands of Missourians who benefit from the Export-Import Bank. This month, the Senate is expected to take up legislation to extend the authorization of the Export-Import Bank. Without similar action from the House of Representatives, the authorization for the Export-Import Bank will expire, and U.S. businesses will lose this valuable resource. We cannot let this happen.
As a beneficiary of Export-Import Bank financing, I have two requests for you today. First, that you share with my office, how Export-Import Bank financing has benefited your business, so that I can continue to advocate for the reauthorization and passage of the legislation. Second, that you also share your story with others in your community. Without this reauthorization, other American companies will not have access to this important tool to grow their business, create jobs, and compete globally.
Thank you for your time and attention. If you would like to share your story, please contact my Washington office by emailing [email protected]. I look forward to finding new ways that we can help grow American businesses in the future.
Sincerely.
Claire McCaskill
U.S. Senator