Sen. Tammy BaldwinTammy BaldwinOvernight Finance: Wall Street awaits Brexit result | Clinton touts biz support | New threat to Puerto Rico bill? | Dodd, Frank hit back Dem hopeful that Congress will eliminate tax break for investment fund managers Congress should stop government hacking and protect the Fourth Amendment MORE (D-Wis.) called on Congress to reauthorize the Export-Import Bank.
“If American businesses have a level playing field, they can compete against anyone,” Baldwin said on Wednesday. “The Export-Import Bank is an important tool that helps us create that level playing field, bringing fairness to global trade and supporting American businesses so they can create jobs and grow.”
“Reauthorizing the Export-Import Bank is a commonsense way to strengthen our Wisconsin economy and ensure American competitiveness,” Baldwin said.
Republicans are divided over reauthorizing the bank, which provides financing for projects designed to increase U.S. exports, should be renewed. Some conservatives argue the bank is a form of corporate welfare, but Democrats said the program is needed to keep the United States economically competitive with countries that heavily subsidize industries.
When lawmakers return from the August recess, the Senate is expected to vote on a five-year extension, but the House hasn’t made plans to act.