Bill Text: CA AJR14 | 2015-2016 | Regular Session | Chaptered

California Assembly Joint Resolution 14 (Prior Session Legislation)

Bill Title: Export-Import Bank of the United States: reauthorization.

Spectrum: Moderate Partisan Bill (Democrat 46-11)

Status: (Passed) 2015-06-26 - Chaptered by Secretary of State - Res. Chapter 84, Statutes of 2015. [AJR14 Detail]

Download: California-2015-AJR14-Chaptered.html

BILL NUMBER: AJR 14	CHAPTERED
	BILL TEXT

	RESOLUTION CHAPTER  84
	FILED WITH SECRETARY OF STATE  JUNE 26, 2015
	ADOPTED IN SENATE  JUNE 22, 2015
	ADOPTED IN ASSEMBLY  MAY 28, 2015
	AMENDED IN ASSEMBLY  MAY 28, 2015

INTRODUCED BY   Assembly Member Chu
   (Coauthors: Assembly Members Brown, Chau, Eduardo Garcia, Kim,
Alejo, Travis Allen, Atkins, Bonilla, Burke, Calderon, Campos,
Ch�vez, Chiu, Cooley, Cooper, Dababneh, Daly, Dodd, Eggman, Frazier,
Cristina Garcia, Gipson, Gonzalez, Gordon, Gray, Roger Hern�ndez,
Holden, Jones, Lackey, Levine, Linder, Lopez, Low, Mathis, McCarty,
Medina, Mullin, Nazarian, O'Donnell, Olsen, Patterson, Perea, Quirk,
Rendon, Ridley-Thomas, Rodriguez, Salas, Santiago, Steinorth, Mark
Stone, Thurmond, Ting, Wagner, Weber, Williams, and Wood)

                        MAY 7, 2015

   Relative to the Export-Import Bank of the United States.


	LEGISLATIVE COUNSEL'S DIGEST


   AJR 14, Chu. Export-Import Bank of the United States:
reauthorization.
   This measure would recognize the role of the Export-Import Bank of
the United States in aiding the export of American goods and
services and would urge the Congress of the United States to support
legislation reauthorizing the Export-Import Bank of the United
States.



   WHEREAS, The Export-Import Bank of the United States (Ex-Im Bank)
is the official export credit agency of the United States and exists
for the purposes of financing and insuring foreign purchases of
United States goods; and
   WHEREAS, The mission of the Ex-Im Bank is to create and sustain
United States jobs by financing sales of United States exports to
international buyers; and
   WHEREAS, The Ex-Im Bank is the principal government agency
responsible for aiding the export of American goods and services, and
thereby creating and sustaining United States jobs, through a
variety of loan, guarantee, and insurance programs for small and
large businesses; and
   WHEREAS, The Ex-Im Bank has supported more than $400 billion in
United States exports in the past 70 years and helps to cover
critical trade finance gaps by providing loan guarantees, export
credit insurance, and direct loans for United States exports in
developing markets where commercial bank financing is unavailable or
insufficient. For fiscal year 2014, the Ex-Im Bank provided $20.5
billion in loan guarantees which leveraged $27.5 billion in exports
while supporting 164,000 United States jobs. Since fiscal year 2009,
the bank has supported more than 1.3 million American jobs in all 50
states; and
   WHEREAS, The Ex-Im Bank is a self-sustaining agency, which
operates at no cost to the taxpayer and over the last three fiscal
years has generated more than $3 billion in fees from its foreign
customers which were deposited in the United States Treasury to
reduce the United States deficit and indebtedness; and
   WHEREAS, The Ex-Im Bank enables United States companies large and
small to turn export opportunities into sales that help to create and
maintain jobs in the United States that contribute to a stronger
national economy. On average nearly 90 percent of the Ex-Im Bank's
transactions support United States small businesses; and
   WHEREAS, Exports are particularly important to the California
economy as California is currently ranked second in exports among all
states. If California's manufacturing base is to grow, we must
continue to expand our ability to export goods from California
facilities. Given the key role the Ex-Im Bank plays in facilitating
export sales, failure to reauthorize it would be devastating to
existing industry and to those that we hope to create in the future;
and
   WHEREAS, Over the past five years, the Ex-Im Bank has assisted
more than 967 California companies to export their products. Nearly
200 of those companies are owned by women or minorities and over 700
are small businesses. These companies export their products and
services around the globe totaling more than $21 billion in sales.
Fifty-two of the 53 congressional districts in California had
companies benefit from the Ex-Im Bank loans; and
   WHEREAS, A reauthorization of the Ex-Im Bank is critical to the
ability of many United States exporters to compete on a level playing
field in a commercial market where current and future competitors
continue to enjoy aggressive support from their countries' export
credit agencies; and
   WHEREAS, A failure to reauthorize the Ex-Im Bank would amount to
unilateral disarmament in the face of other nations' aggressive trade
finance programs that favor their domestic companies over American
companies; and
   WHEREAS, Economic growth depends on increasing exports from both
small and large manufacturers and service providers in California and
reauthorization means support for California exports and California
jobs; and
   WHEREAS, in the 114th United States Congress, 1st Session,
legislation is pending that would continue the Ex-Im Bank's capacity
for creating jobs while also making its practices more accountable
and transparent, as well as making the bank more solvent and
self-sufficient; now, therefore, be it
   Resolved by the Assembly and the Senate of the State of
California, jointly, That the Legislature urges Congress to support
legislation reauthorizing the Export-Import Bank of the United
States; and be it further
   Resolved, That the Chief Clerk of the Assembly transmit copies of
this resolution to the President and Vice President of the United
States, to the Speaker of the House of Representatives, to the
Majority Leader of the Senate, and to each Senator and Representative
from California in the Congress of the United States.