To the editor — Small businesses across Washington are feeling the pain because of the Export-Import (Ex-Im) Bank’s charter lapse. While politicians inside the D.C. Beltway bicker over reauthorizing Ex-Im, jobs and business in Washington are being lost.
I applaud Rep. Dan Newhouse (Yakima, Kennewick) for putting partisan politics aside by supporting reauthorization of Ex-Im. He understands that Ex-Im is all about jobs. Since 2007, Ex-Im financing has supported over 800 thousand jobs and over 200 companies in Washington.
My business, like hundreds of others in Washington, has used Ex-Im to compete globally. Washington is the most trade dependent state in the union with 30 percent of its new jobs coming from exports, according to the Washington State Department of Commerce. That means the jobs of our neighbors, family, and friends’ rely on exporting.
Politicians are squabbling over one of the few government agencies that returns more than it spends. In the past six years, Ex-Im has sent $2.7 billion back to taxpayers because it charges for its services just like the private sector. This is why Congress confuses so many people. Even on an issue that seems like a no-brainer, it finds a way to make a problem that could cost our friends and neighbors their jobs.
At a time when companies are competing globally, it does not make sense to tie the hands of small businesses behind their backs by taking away one of the best tools they have to broaden their business horizons.
I urge all of Washington’s elected officials to reauthorize Ex-Im’s charter and support the hard-working Washingtonians whose jobs depend on the bank.