February 24, 2020
Politics Latest News | Bernie Sanders | Bangor Metro | Marissa Kennedy | Today's Paper

Angus King calls for reauthorization of Export-Import Bank

Andrew Harnik | AP
Andrew Harnik | AP
Sen. Angus King, I-Maine, arrives for a closed door meeting for senators on Capitol Hill in Washington, July 10, 2019.

A continuing resolution to keep the federal government operating until Nov. 21 includes a temporary authorization for the Export-Import Bank.

U.S. Sen. Angus King, an independent who caucuses with Democrats, is pushing for a permanent re-authorization because of what he called the bank’s importance to small business.

King said the credit and other financial services offered by the Export-Import Bank are critical to their efforts to establish foreign markets for their products.

“We’re shooting ourselves in the foot by not getting that reauthorized and getting a full quorum on the board so it can go forward and act,” he said.

King said he’s heard from several small Maine companies that the bank has been crucial to their export efforts, and he hopes Congress will pass separate legislation to keep the bank operating.

King said it’s one of the few federal programs that pays for itself and actually makes money for the treasury.

This article appears through a media partnership with Maine Public.

Have feedback? Want to know more? Send us ideas for follow-up stories.

You may also like