It is not often that the U.S. Chamber of Commerce, the National Association of Manufacturers, organized labor and small-business executives can agree. However, all these groups in March joined in urging the Senate to reauthorize the Export-Import Bank. Unfortunately, that effort was unsuccessful — though the bank helps support nearly 300,000 U.S. jobs.

The Export-Import Bank has helped U.S. businesses sell goods abroad for more than 77 years. It provides financing so foreign customers can afford to buy U.S. goods. This is no handout: The bank charges interest on these loans. It has a lower default rate than commercial lenders, and it routinely produces a profit for the taxpayers. In fact, the bank has returned nearly $2 billion to the Treasury since 2008.

The Senate Banking Committee recently heard from three small businesses about the vital role this bank’s financing plays in boosting exports and supporting U.S. jobs and businesses.

The bank fills a gap that the private market is unable, or unwilling, to fill and levels the playing field for U.S. companies that compete against foreign competitors, whose governments also provide export financing. In fact, China, Germany, Brazil and France all significantly outpace the U.S. in export financing.

Given other countries’ export financing, dismantling our Export-Import Bank would be like unilateral disarmament.

Robert Patton, co-founder and chief executive officer of a small electronics manufacturer, detailed this at our hearing. “Ex-Im’s critics say it picks winners and losers,” Patton said. “It doesn’t. Ex-Im finances all transactions that meet their criteria. However, if Congress fails to reauthorize Ex-Im, it is picking foreign companies as winners and American companies as losers,” he added.

Unfortunately, however, some Senate Republicans have blocked legislation that would keep the bank operating for four more years, boost its lending authority, increase its transparency and accountability standards and tighten restrictions against companies doing business with Iran.

Never mind the fact that Republicans and Democrats shared the pen when drafting this measure. And that the Senate Banking Committee passed it by a unanimous voice vote — a practice that has become customary in the past year with every bill acted on in committee winning unanimous bipartisan support.

There is simply no legitimate reason to block the Ex-Im Bank from helping to create and support U.S. jobs. The bill has support across the ideological spectrum: business coalitions, labor unions, conservatives and liberals — all are calling on Congress to allow the bank to continue its work.

President Barack Obama in 2009 set a goal of doubling U.S. exports within five years. With the Ex-Im Bank operating at full capacity, we are on track to reach that goal ahead of schedule.

The bank supports jobs in cities and towns in every corner of the country, at large companies as well as small businesses.

One example is Air Tractor, a small manufacturer with 270 employees in Olney, Texas. At our hearing, David Ickert, the company’s vice president of finance, outlined how critical the Export-Import Bank is to the firm.

“If the Export-Import Bank is not reauthorized,” Ickert said, “68 jobs at Air Tractor will be in jeopardy. Not only would these 68 employees be directly at risk, but other employees in small retail businesses along Main Street would also be at risk.”

But for some in Washington, passing good policies isn’t the primary goal. Instead, scoring political points is the top priority. The failed vote in March on the bank helps explain why the public has such a low opinion of Congress.

We allow political opportunism to hold crucial policy for ransom. Washington needs to put an end to its obsession with brinkmanship and find common ground in the interest of the American people.

This legislation can offer that common ground. The bank is an effective institution with virtually unanimous popular support. It is fueling one of the few bright spots in an otherwise dreary economy.

If our economic recovery is to continue, the “Made in America” label needs to be on more products sold around the world. The Export-Import Bank can help make that happen.

Sen. Tim Johnson (D-S.D.) is chairman of the Banking, Housing and Urban Affairs Committee. Sen. Mark Warner (D-Va.) is chairman of the Security and International Trade and Finance Subcommittee.