The U.S. House of Representatives has passed the Export Finance Agency Act. 5th District Congresswoman Jahana Hayes called it an important piece of legislation-- reauthorizing the Export-Import Bank for ten years and increasing its lending threshold to $175 million.
She says this will also streamline operations in order to better serve consumers. Hayes added that this bill ensures critical resources for Connecticut businesses is available over the course of the next decade. She notes that there are companies in Bridgewater, Brookfield, Danbury, New Milford, Southbury, and Watertown that export goods. Hayes says over $230 million has been generated by exporters in Connecticut’s Fifth District as a result of assistance rendered by the Export-Import Bank, which supports small businesses.
She encourage the Senate to pass this reauthorization and deliver it to the president’s desk for his signature.