Rep. Sherrill Votes to Support New Jersey Workers, Jobs, Small Businesses, and Entrepreneurship

November 15, 2019
Press Release
Votes to Reauthorize Export-Import Bank, Which Provides $309 Million in Support to NJ-11 Businesses

Washington, DC -- Representative Mikie Sherrill (NJ-11) voted today to reauthorize the Export-Import (Ex-Im) Bank for ten years. The Ex-Im Bank supports American workers by financing the export of American-made goods from companies nationwide, including businesses in Essex, Morris, Passaic, and Sussex Counties.

Specifically, the bill increases the bank’s lending authority from $135 billion to $175 billion by 2026 and changes the name of the Export-Import Bank to the United States Export Finance Agency. The bill creates new programs to help connect foreign buyers with U.S. exporters and strengthens the bank’s support for small businesses.

“Reauthorizing the Export-Import Bank is critical to help our New Jersey businesses compete in the global marketplace,” said Representative Sherrill. “Businesses across all four counties in our district have benefited from the bank, and I will continue to fight for our New Jersey workers to get this legislation passed in the Senate.”

According to the Ex-Im Bank, there are Ex-Im-supported exporters located in all four counties in New Jersey’s 11th Congressional District. The Ex-Im Bank has provided $309 million in financing and insurance to these exporters.

The House passed today’s reauthorization bill with a bipartisan vote.