International Trade and Ports

Reauthorizing the Export Import Bank (EXIM)

Did you know: More than one in five Florida jobs depends on international trade

The above image is what you will find when you visit the Export Import Bank (EXIM) website.

The authorization of the Export-Import Bank expired at the end of June and has not been reauthorized by Congress. The bank can only manage what it has given out in loans but cannot take on any new loans until it is reauthorized.  This action has made the U.S. the only industrialized country of major significance to not have such an instrument to support trade.

The Florida Chamber of Commerce supports reauthorizing Ex-Im. Ex-Im is particularly important to small- and medium-sized businesses. In fact, those businesses account for more than 85 percent of Ex-Im’s transactions. In the last five years along, Ex-Im has helped more than 500 Florida small businesses, 133 of which are minority owned, with export finance – a $6 billion value on Florida-based exports

More than one in five Florida jobs (2.4 million) depends on international trade.

It’s time for Congress show they care about the thousands of Florida jobs and hundreds of Florida businesses at risk. It’s time to reauthorize the Export-Import Bank of the United States. Click here and urge your member of Congress to reauthorize Ex-Im.

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