The Aerospace Industries Association is very pleased that the Senate has attached an amendment reauthorizing the Export-Import Bank of the United States to the Transportation bill that passed the Senate today. Ex-Im Bank supports roughly 164,000 American jobs across the United States and is an important tool in enabling U.S. exporters to remain competitive in the global marketplace. The aerospace and defense industry is the single largest net exporter among American manufacturers, but we compete against foreign companies receiving much greater support from their home governments, including direct subsidies. Ex-Im Bank helps offset that foreign advantage.
The vote for the Ex-Im Bank amendment demonstrates the majority support reauthorization enjoys in the Senate; that strong support is mirrored in the House of Representatives. We strongly urge the House to include the Senate Ex-Im language and put an end to the acrimonious and unnecessary debate over reauthorization of an institution that House Republicans voted overwhelmingly to reauthorize only two years ago. Enough damage has been done to American businesses at the behest of a small but vocal minority in the House.
