Central Louisiana News

WASHINGTON – U.S. Senators Bill Cassidy, M.D. (R-LA), Marsha Blackburn (R-TN), Catherine Cortez Masto (D-NV), and nine Senate Finance Committee members have introduced a resolution aiming to strengthen economic ties between the United States and Israel. The resolution comes in response to Israel's ongoing war against Hamas, following the terrorist group's attack on Israel in early October, which has had a detrimental impact on Israel's economy.

"Strengthening the already existing economic ties with Israel not only shows America's commitment to our ally but benefits our hardworking families back home," stated Dr. Cassidy. "Our alliance with Israel is unbreakable, including in trade."

Senator Blackburn highlighted the importance of the U.S.-Israel Free Trade Agreement, which was established in 1985, in fostering a strong economic relationship between the two countries. "While Israel faces an unprecedented war against Hamas, we must have their back," said Senator Blackburn. "It is essential that we further trade and investment between our two countries to help boost Israel's economy during this turbulent time."

Senator Cortez Masto expressed her pride in introducing the bipartisan resolution, emphasizing the support for Israel and the commitment to strengthening the economies of both nations. "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."

The resolution has received endorsements from the National Taxpayers Union, the Center for Individual Freedom, and the Trade Alliance to Promote Prosperity.

In addition to Senators Cassidy, Blackburn, and Cortez Masto, U.S. Senators Mike Crapo (R-ID), Thom Tillis (R-NC), John Barrasso (R-WY), James Lankford (R-OK), Tim Scott (R-SC), Todd Young (R-ID), Bob Menendez (D-NJ), Ben Cardin (D-MD), and John Cornyn (R-TX) have joined in introducing the resolution.

The U.S.-Israel Free Trade Agreement, established in 1985, has played a significant role in the growth of trade between the two nations. Since its inception, trade between the U.S. and Israel has grown more than sevenfold. 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. Similarly, Israeli companies exported $21.4 billion in goods and $9.2 billion in services to the U.S. last year.

Furthermore, Israeli companies have made substantial foreign direct investments in the U.S., amounting to $10.6 billion in 2022 and supporting over 20,000 American jobs.

The resolution put forth by Senators Cassidy, Blackburn, Cortez Masto, and their colleagues aims to reinforce the economic partnership between the United States and Israel, particularly during this challenging period for Israel's economy.

To learn more, click on this link: https://www.cassidy.senate.gov/newsroom/press-releases/cassidy-blackburn-cortez-masto-lead-resolution-to-strengthen-economic-ties-with-israel