In Salem, Kuster Discusses Importance of Export-Import Bank
Salem, NH – Today, Congresswoman Annie Kuster (NH-02) visited Foxx Life Sciences in Salem to tour the space and discuss with company leadership the importance of the Export Import Bank (Ex-Im). Ex-Im provides financing support to New Hampshire small businesses so they can sell their goods in overseas markets. Earlier this month, Kuster voted in favor of House-passed bipartisan legislation to reauthorize Ex-Im and raise the annual limit on outstanding export financing. In the month of October, Ex-Im financed $342,538.64 in exports from New Hampshire’s Second Congressional District.
“It’s wonderful to be at Foxx Life Sciences and see how businesses in New Hampshire are engaging with our global marketplace and benefiting from Ex-Im,” said Rep. Kuster. “Ex-Im enables companies to reach customers abroad and foster economic growth in their communities, and it is critical that Congress remove politics from the equation when it comes to Ex-Im’s reauthorization. I look forward to sharing the insights I’ve heard today with my colleagues as we continue our efforts to expand economic opportunity for all.”
“Foxx Life Sciences would like to thank Congresswoman Kuster for taking interest in one of New Hampshire’s small business success stories and engaging with us to assist the company’s continued success,” said Tom Taylor, President and CEO of Foxx Life Sciences. “The Ex-Im program is invaluable to Foxx Life Sciences as it allows us to have access to short-term working capital that would otherwise be unavailable. These funds are essential for growing the New Hampshire economy and more importantly New Hampshire jobs.”
The House-passed legislation Kuster voted on earlier this month to reauthorize Ex-Im would reauthorize the bank for ten years and raise the annual limit on outstanding export financing from $135 billion to $175 billion by fiscal year 2026. The bill also establishes alternative procedures to ensure the agency can continue to approve transactions in the absence of a quorum.