INTRODUCED EXPORT-IMPORT BANK REFORM BILL SUPPORTED BY 58 HOUSE MEMBERS

Alabama U.S. Reps. Robert Aderholt and Mike Rogers are two of 58 sponsors of a bill introduced in the House to reform the Export-Import Bank of the United States and give it long-term authorization.

Aderholt, R-Haleyville, and Rogers, R-Saks, co-sponsored H.R. 597 that was offered by U.S. Rep. Stephen Fincher, R-Tenn. The bill is titled the Reform Exports and Expand the American Economy Act.

As part of its 2015 Federal Legislative Agenda, the Business Council of Alabama supports efforts to re-authorize the Export-Import Bank. The bank acts as the official credit agency of the U.S. and assists in financing the export of U.S. goods and services at no cost to the American taxpayer.

"Reauthorization of the bank is vital in providing financing for dozens of Alabama businesses and supporting nearly 4,000 jobs," said BCA President and CEO William Canary.

In Alabama since 2007, Ex-Im financing supported 3,978 jobs at 58 companies with over $622 million in exports. Nationally, the bank's financing has supported $235 billion in exports for 7,340 companies that support 1.5 million jobs. Just last year, the bank provided $27.3 billion in financing, enabling $34.7 billion in exports, and supporting 205,000 American jobs.

Last summer, the National Association of Manufacturers and the U.S. Chamber of Commerce announced a coalition in support of the 200,000 employees at 3,400 companies who depend on the U.S. Export-Import Bank. Their support letter to Congress included the names of 865 organizations including the BCA's.

The BCA is the exclusive representative of the NAM and the U.S. Chamber in Alabama.

In a statement, Fincher said the bank since its inception has been a job creator but it needs major reforms to ensure its ability to continue.

"In reforming the Ex-Im Bank, we'll make its practices more accountable and transparent than ever before," he said. "We'll also enhance taxpayer protections by requiring the Bank to become more solvent and self-sufficient."

National Association of Manufacturers President and CEO Jay Timmons urged President Obama to approve the Keystone XL pipeline that the House and Senate have now approved.

"With today's strong Senate vote, we are one step closer to a final decision on a permit for the Keystone XL pipeline," Timmons said Thursday following the Senate vote. "Both the House and Senate now support this project, the courts have cleared the way, and the vast majority of the American public say move ahead.  

Manufacturers once again call on the President to end the political gamesmanship and approve the Keystone XL pipeline."

The Senate voted 62-36 to build the Keystone XL pipeline, giving Republicans the first legislative victory of their new majority, the Hill reported. Nine Democrats joined Republicans to approve the $8 billion project but the vote was less than the 67 votes needed to override a promised veto by President Obama.

Alabama's two U.S. senators, Jeff Sessions and Richard Shelby, voted for the pipeline. Alabama's entire U.S. House delegation previously voted for the House version of the pipeline bill.

The bill heads to the House where Republicans will try force Obama to take what they believe will be a politically unpopular stand against a project that would carry oil sands from Canada to Gulf Coast refineries, the Hill said.

The Senate had added amendments that will have to be considered by the House, which voted earlier on its own pipeline-approval legislation. The House could accept the Senate version or reject it and  send the bill to a conference committee.

"I'd like to congratulate Sen. McConnell for passing this bill in an open, inclusive and bipartisan way," House Speaker John Boehner, R-Ohio, said of Senate Majority Leader Mitch McConnell, R-Ky. "After dropping his scheme to tax middle-class college savings, we hope President Obama will now drop his threat to veto this common-sense bill."

McConnell, prior to the vote, said the Senate was about to pass "an extraordinarily important jobs bill for our country."

He said the Senate is ready to "work hard for the middle class, even in the teeth of opposition from powerful special interests." A wealthy Democrat had funded the anti-pipeline campaign.

Obama has stalled the pipeline for six years and Senate Democrats kept the bill from coming to a vote prior to the 2104 elections that gave the House and Senate significant majorities. "If, in fact, the legislation that passed the House also passes the Senate, then the president won't sign it," White House spokesman Josh Earnest said Thursday.

The Business Council of Alabama's 2015 Federal Legislative Agenda includes supporting efforts to reduce America's dependence on foreign energy sources and increasing reliance on domestic energy sources.