The Aerospace Industries Association (AIA) is urging the U.S. Congress to reauthorize the Export-Import Bank for four years and increase the export credit agency’s $100 billion lending cap.
“U.S. jobs could be directly impacted if immediate action isn’t taken by the U.S. Congress,” AIA President Marion Blakey wrote in a Feb. 29 letter to House and Senate leaders. “A four year reauthorization, with an increase in the lending cap, will ensure that American companies remain second to none.”
U.S. satellite manufacturers are among aerospace firms making increased use of Ex-Im financing to make their products more price competitive overseas.
Congress last reauthorized the Export-Import Bank in December 2006. That five-year authorization formally expired at the end of last year. The bank is operating under a temporary extension that expires May 31.