Today’s passage of Rep. Fincher’s (R-Tenn.) bill in the House marks an important step in reauthorizing the Export Import Bank of the United States. The ExIm Bank is a valuable tool supporting exports in the aerospace and defense industry – the leading export industry in the U.S. manufacturing sector with a trade surplus of nearly $62 billion. We are relieved that common sense has prevailed and the majority has found a way – even using the unconventional “discharge” process – to express its will.
But the work is not yet done. So far, American companies have lost three space payload orders, billions of dollars in commercial airplane sales are at risk, and several companies are talking about moving operations overseas – all because ExIm Bank financing has not been available since July 1. Enough is enough – identical language has now passed in both the House and Senate. Both chambers have expressed their will. We strongly urge House and Senate leadership to join in a cooperative, bipartisan spirit and do the right thing to restore our country’s global competitiveness: take the necessary steps to reauthorize the Export-Import Bank.
