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NEI Hails House Vote to Reauthorize Export-Import Bank

WASHINGTON, Oct. 27, 2015 (GLOBE NEWSWIRE) -- The U.S House of Representatives today passed H.R. 3611, the Export-Import Bank Reform and Reauthorization Act of 2015. The legislation reinstates and extends the Export-Import Bank charter through 2019. Following is a statement by Marvin Fertel, the Nuclear Energy Institute's president and chief executive officer.

"The Nuclear Energy Institute applauds today's bipartisan House vote to reauthorize the Export-Import Bank and strengthen U.S. competitiveness in the global economy. Continued operation of the Export-Import Bank will translate into hundreds of thousands of jobs for the American people. Particularly in the nuclear energy sector, these are good-paying jobs that leverage U.S. expertise in a technology area increasingly recognized as a way to raise living standards without emitting carbon.

"Beyond creating tens of thousands of jobs, the participation of U.S. companies in global nuclear energy markets advances nuclear safety, national security and nonproliferation influence in foreign nuclear energy programs. Nearly 70 reactors are under construction in 15 countries, and scores more are planned. The Export-Import Bank plays a central role in leveling the playing field for U.S. manufacturers and providers of nuclear energy services to successfully compete in this marketplace, where nations like Russia benefit from state financing to support their business tenders.

"NEI urges the Senate to join the House and expeditiously approve reauthorization of the Export-Import Bank. Every day that passes without the bank being operable hampers the ability of U.S. manufacturers and suppliers to compete and costs hard-working Americans their jobs."

The Nuclear Energy Institute is the nuclear energy industry's policy organization. This news release and additional information about nuclear energy are available at www.nei.org.

CONTACT: NEI's media relations staff at media@nei.org, 202.739.8000 during business hours or 703.644.8805 after hours and weekends.

Source:Nuclear Energy Institute