House Democrats on the Financial Services Committee are calling for panel leaders to hold a hearing on the reauthorization of the Export-Import Bank, which they argue bolsters job and economic growth.

In a letter to Committee Chairman Jeb Hensarling (R-Texas) and subcommittee Chairman John Campbell (R-Calif.), 26 Democratic lawmakers said the bank is a self-sustaining agency that has helped maintain or create 1.2 million U.S. jobs in the past five years.

"Reauthorizing the Export-Import Bank will reduce the deficit and create good paying jobs right here in America,” Rep. Denny Heck (Wash.) said.

"It is urgent that Congress reaches a bipartisan reauthorization agreement so U.S. companies can continue competing in the global marketplace.”

The letter, led by Heck and Reps. Lacy Clay (D-Mo.), Gwen Moore (D-Wis.) and Maxine Waters (D-Calif.), touts the bank’s importance in leveling the playing field for U.S. businesses that compete in the global economy.

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