Illinois General Assembly - Full Text of HR0304
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Full Text of HR0304  99th General Assembly

HR0304 99TH GENERAL ASSEMBLY


  

 


 
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1
HOUSE RESOLUTION

 
2    WHEREAS, Illinois is the largest exporting state in the
3Midwest and the fifth largest in the United States; and
 
4    WHEREAS, The Export-Import Bank of the United States is the
5official export credit agency of the United States; and
 
6    WHEREAS, The Export-Import Bank finances sales of United
7States exports to international buyers while insuring foreign
8purchases of American goods for customers who do not want or
9cannot accept credit risk; and
 
10    WHEREAS, The Export-Import Bank is crucial for small and
11large businesses to compete in the global market, increase
12their exports, stimulate job creation, and contribute to the
13growth of the Illinois economy; and
 
14    WHEREAS, Since 2007, over 383 Illinois businesses have
15exported their products overseas thanks to the Export-Import
16Bank, of which 250 are small businesses, 22 are minority-owned,
17and 25 are owned by women; and
 
18    WHEREAS, The Export-Import Bank has helped support exports
19as the fastest-growing segment of the Illinois economy,
20accounting for nearly 14% of the Gross State Product and

 

 

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1sustaining 210,913 jobs; and
 
2    WHEREAS, Fifty-nine countries, including China, France,
3Germany, Brazil, Canada, and Korea, have export credit agencies
4that are similar to the Export-Import Bank; and
 
5    WHEREAS, The majority of Illinois businesses do not have
6the global presence necessary to compete against foreign
7companies that receive support from their national export
8credit agency; and
 
9    WHEREAS, The Export-Import Bank is financially
10self-sustaining, resulting in almost $2 billion of profit for
11taxpayers that has helped to reduce the federal deficit over
12the last 2 years; and
 
13    WHEREAS, The Export-Import Bank helps Illinois businesses
14to successfully compete in the global economy against foreign
15corporations; and
 
16    WHEREAS, Without swift action, American industries will be
17at a competitive disadvantage to foreign competitors in the
18global marketplace, hindering the economic vitality of
19Illinois; and
 
20    WHEREAS, The Export-Import Bank provides the necessary

 

 

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1tools for economic recovery, future growth, and jobs for the
2State of Illinois; therefore, be it
 
3    RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE
4NINETY-NINTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we
5strongly encourage Congress to pass a long-term
6reauthorization of the Export-Import Bank before its charter
7expires on June 30, 2015; and be it further
 
8    RESOLVED, That a suitable copy of this resolution be
9delivered to the members of the Illinois congressional
10delegation.