REP. GALLEGO FILES AMERICAN EXPORTS PROMOTION ACT OF 2013
WASHINGTON, DC – Congressman Pete Gallego (TX-23) this week filed the American Export Promotion Act of 2013 - HR 1420. The American Export Promotion Act of 2013 invests in a program that works to benefit the US economy. He joined Democratic Whip Steny Hoyer and House Democrats in a press conference to unveil the legislation as part of the new Make It In America priorities for the 113th Congress. Make It In America is a comprehensive jobs plan aimed at revitalizing our manufacturing sector and helping it create high-skill, high-wage jobs that won’t be outsourced.
“Our workers are among the most resilient in the world - and so is our country,” said Congressman Gallego. “The American Export Promotion Act invests in the future of the U.S. economy and spurs American exports. This bill invests in what works for the well-being of our national economy. For every $1 invested in this program, $258 is generated in exports. This bill focuses on what matters - Main Street and our small businesses, as well as American job creation.”
Background on The American Export Promotion Act of 2013 (HR 1420)
Promotes American exports: The bill invests in a program that works to benefit the US economy. It allots $4 million to the The Market Development Cooperator Program (MDCP). An MDCP award establishes a partnership between International Trade Administration and non-profit industry groups (such as trade associations and local chambers of commerce) to work together with small businesses in manufacturing to increase exports. For every $1 of awards made from the MDCP, $258 is generated in exports.
Increases grant limit per award: The bill includes a measure that individual award limits are increased to $500,000 - allowing the partnerships and small businesses to invest more in exporting.
Commits to sustaining projects for American exports: The bill requires industry groups pledge to pay a minimum of two-thirds of the project cost and to sustain the project after the MDCP award period ends.
Advocates for small business and American jobs: The bill requires the Secretary of Commerce to give preference to assist small and medium sized businesses in the United States, as well as activities that create or sustain the greatest number of American jobs. This is crucial when awarding funding that the agency supports small business and job creation.