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Pat Quinn on Free Trade
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Exports support 500,000 jobs in IL; double that in 5 years
Illinois is a major player on the global stage. Our current exports support more than a half a million Illinois jobs. In 2010, our state's exports went up by nearly 20% to just under 50 billion dollars. We are 6th in the nation in exports, and first in
the Midwest. As Governor, I pledge double our exports over the next five years. To meet this goal, we will be reorganizing our foreign trade offices--working with representatives from international markets to develop new trading relationships and enhance
the ones already in place. For example: we recently hosted the president of China and his delegation of trade officials. These meetings resulted in $1.8 billion in agreements that will sell 25% of Illinois' soybean crop to China.
In 2010, exports from Illinois to China increased by nearly 30%. And more than 30 Chinese companies have already invested in Illinois, employing thousands of Illinois workers.
Source: Illinois 2011 State of the State Budget Address
, Feb 16, 2011
Reauthorize the Ex-Im Bank.
Quinn signed Letter on Ex-Im Bank
Press release on Letter from 31 Governors to House Republican leaders:
We urge you to reauthorize the Export-Import Bank (Ex-Im) before its charter expires this year. In its role as the official export credit agency, Ex-Im is a vital export finance tool for exporters in our states, at no cost to American taxpayers.
Ex-Im allows our companies and workers to compete on a level playing field against our competitors. Without Ex-Im financing, US firms would have lost many sales campaigns to their overseas competitors.
Reauthorizing Ex-Im is the right thing to do for our economy, companies and workers. 41 GOP lawmakers and 865 business organizations have called for the charter's immediate renewal. And, House Democrats have already introduced legislation to reauthorize the bank. Speaker Boehner, it's time to act; quit jeopardizing the nation's economy and American jobs.
Argument in opposition from FreedomWorks:
Top Ten Reasons to Let the
Export-Import Bank Expire- It Has Outlived Its Purpose: In the 2010s, US exports have been setting record highs--they don't need government help.
- It Lets Government Pick Winners and Losers
- Its Risky Loans Put it in Danger of Needing Taxpayer Bailouts
- It Costs Taxpayers Money Annually, thanks to government accounting gimmicks
- Most of Its Funding Goes to Big Corporations Who Don't Need the Money
- It Lets Foreign Corporations Undercut US Competitors
- It Only Benefits a Few States, but Every State Bears the Costs
- It Is Prone to Corruption (like whenever you involve the government in handing out money)
- There Are Better Ways to Help US. Manufacturers: the government should lower and simplify the tax and regulatory burden US companies face.
- It Is Unnecessary. The Ex-Im Bank cannot justify its continued existence. It's also one of the easiest programs to retire, as its authorization expires in September 2014 if Congress simply does nothing.
Source: Letter from 31 Governors 14_Lt_ExIm on Jul 15, 2014
Page last updated: Jul 23, 2017