|WCAX: 'Rep. Welch visits GE in Rutland'|
|Monday, 25 June 2012 00:00|
Congressman Peter Welch made a stop at the General Electric plant in Rutland Monday to see the dividends of some legislation he helped author.
The plant manufactures parts for jet engines that are sold around the world. The congressman worked to pass legislation creating an export-import bank that provides financing to foreign customers purchasing U.S.-made goods, like the GE parts.
It was reauthorized by President Barack Obama last month and will be extended through September 2014.
With the support of the bank, the GE plant has seen a 10 percent growth in production and a hiring increase.
"And now to be here at your facility to see the products that you're making and knowing that you have a good shot at continuing your good work and keeping people employed, that's what Vermonters want, that's what America wants and that's what you're doing. So any modest role I can play as Vermont's representative to help you continue to be able to be successful is a privilege for me to do that," said Welch, D-Vermont.
The reauthorization of the bill also increased the bank's financial cap from $100 billion to $140 billion.