SCHENECTADY N.Y. – There is a push by Senator Schumer to preserve the Export- Import Bank which according to the Senator supports thousands of jobs, and over $1 billion in sales for companies in the Capital Region.
Senator Schumer says the Export- Import bank provides financing to foreign companies to encourage them to purchase U.S. goods.
The Ex-Import Bank is set to expire in two months. According to the Senator if Congress does not act the dozens of companies in the Capital Region who rely on the bank to export their products will run into disaster.
Monday Senator Schumer will be joined by the CEO of GE to push Congress to vote to reauthorize the export import bank before it expires at the end of September.