Washington, D.C. – U.S. Senators Catherine Cortez Masto (D-Nev.) and Marsha Blackburn (R-Tenn.) introduced a resolution affirming the United States’ trade pact with Israel and calling to strengthen our nations’ economic ties. The resolution comes amid Israel’s war against Hamas in response to the terrorist group’s violent assault on southern Israel on October 7th, which has stunted Israel’s economy.
“I’m proud to introduce this bipartisan resolution to support Israel and demonstrate our commitment to working together to strengthen our two economies,” said Senator Cortez Masto. “Let me be clear: the U.S. stands with Israel, and I will continue working across the aisle to combat terrorism and bolster our alliance with our strongest ally.”
“Ever since the U.S.-Israel Free Trade Agreement was instituted in 1985, the strong economic relationship between Israel and the U.S. has flourished,” said Senator Blackburn. “While Israel faces an unprecedented war against Hamas, we must have their back. It is essential that we further trade and investment between our two countries in order to help boost Israel’s economy during this turbulent time.”
The U.S.-Israel Free Trade Agreement of 1985 has helped trade grow more than sevenfold between the two countries and is critical for the Israeli economy. In 2022, American companies exported $14.2 billion in goods and $5.8 billion in services to Israel, including machinery, mechanical appliances, stone, glass, metals, and chemicals. Israeli companies invested $10.6 billion in the U.S. last year, supporting more than 20,000 American jobs.
In addition to Cortez Masto and Blackburn, this bipartisan resolution is cosponsored by Senators Ben Cardin (D-Md.), Bob Menendez (D-N.J.), Mike Crapo (R-Idaho), Thom Tillis (R-N.C.), John Barrasso (R-Wyo.), John Cornyn (R-Texas), James Lankford (R-Okla.), Tim Scott (R-S.C.), Todd Young (R-Ind.), Bill Cassidy (R-La.). It has been endorsed by the National Taxpayers Union, the Center for Individual Freedom, and the Trade Alliance to Promote Prosperity.
Following Hamas’s terrorist attack, Senator Cortez Masto has pushed for additional federal funding to ensure Israel can defend itself and called on President Biden to do everything in his power to rescue American hostages. She has pushed for an immediate crackdown on the financing of international terrorist organizations, including Hezbollah and Hamas, and has supported the administration’s efforts to deliver humanitarian aid to Palestinian civilians while ensuring it does not get to Hamas terrorists.