politics
Senators to Introduce Bill Making Export-Import Bank Program Permanent
Sens. Angela Alsobrooks and Dave McCormick will introduce legislation Thursday to help small businesses obtain Export-Import Bank financing for overseas sales. The measure would create a pilot program directing the bank to work with state and local institutions.
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Sens. ) will introduce the Regional Export Promotion Act on Thursday to make permanent a program at the Export-Import Bank that connects state and local governments with financing for small-business exports. The legislation would direct the bank to prioritize partnerships with chambers of commerce and community banks when providing export loans.
“Small businesses and local chambers of commerce are the backbone of Maryland’s economy,” Alsobrooks said in a statement. In fiscal 2024 the bank reported that more than 1,200 of its 1,400 nationwide transactions supported small businesses.
The bill is being considered for inclusion in a larger reauthorization measure for the Export-Import Bank, whose current authorization expires at the end of the year.
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