The Chamber continues to call on Congress to support long-term reauthorization of the Export-Import Bank of the United States (Ex-Im). Ex-Im provides direct loans, loan guarantees, and insurance against losses to exporters and their overseas customers when private-sector lenders are either unable or unwilling to provide financing. If Congress does not reauthorize Ex-Im by June 30, domestic manufacturers and suppliers will be put at a serious competitive disadvantage as other nation’s continue to setup export credit agency equivalents.
Last year, Congress approved a short-term extension of Ex-Im before it expired in September 2014. Although the temporary fix kept the Bank operational, reports show the uncertainty in a short-term reauthorization is hurting American business already. Major exporting companies that have government backed export finance agencies that are not facing threat of expiration are leveraging their competitive advantage over U.S. exporters who cannot show a certainty in financing beyond June 30.
We encourage large exporting companies, small subcontractors, or diverse suppliers such as minority, women, and veteran-owned businesses to join the Chamber in support of Ex-Im. Please contact your Members of Congress urging long-term reauthorization and use the hashtag #exim4jobs in your social media posts.
For a copy of our letter to Members of our regional congressional delegation before last year’s Ex-Im expiration, please click here.
