Business, Freight News, Logistics, Road

Congress Passes Surface Transportation Bill, Reauthorizes Ex-Im Bank

[ December 5, 2015   //   ]

News hailing from December 3: Congress has passed a long-term reauthorization of the Export-Import (Ex-Im) Bank and surface transportation bill.

Groups, such as the Washington Council on International Trade (WCIT) and its members – farmers, manufacturers, retailers and service providers from across Washington state – celebrate the news.

“It’s a big win for Washington state that has been years in the making,” said Eric Schinfeld, President of WCIT. “For the last few months, our businesses have had no access to reliable export financing, leading to lost sales and shrinking international growth. This translates into fewer jobs, especially for our small businesses.

“Additionally, our businesses need to be able to efficiently move goods in and out of ports and over highways if they are to compete globally. Yet it’s been a decade since a long-term highway bill was passed.

“After a long wait, we finally have bill that accomplishes both reauthorizing the Ex-Im Bank and renewing surface transportation funding. We are especially happy to see that the transportation bill includes strong multimodal freight funding and policy provisions. We are grateful to Washington’s congressional delegation who understood the importance of this bill and unanimously supported it. With the passage of this bill, two of WCIT’s biggest 2015 policy priorities have been accomplished.”