The U.S. Export-Import Bank has supported 1.3 million American jobs in the past six years and plays a critical role in ensuring U.S. companies have a fair and level playing field when competing for business overseas.
While Congress reauthorized the Ex-Im Bank a year ago, the Bank is operating at less than full capacity because the Senate has failed to fill the board of director position needed to reach the required quorum. As a result, the Bank is unable to support U.S. manufacturing and supplier jobs and U.S. exporters are at an extreme disadvantage to competitors around the world that have support from their government-backed export credit agencies.
Therefore, manufacturers urge congressional leadership to act during the lame duck session of Congress to include language in a year-end funding bill that could modify quorum requirements to make the Ex-Im Bank fully functional. Until this issue is resolved, manufacturers and business suppliers, large and small, are missing out on opportunities to grow and expand.
With 6,390 jobs per $1 billion in exports supported by the Ex-Im Bank, Congress must realize the importance of trade tools such as the Ex-Im Bank that enable our country to ship products to foreign markets. Millions of jobs are at stake.
Manufacturers, click here to contact your officials and tell them to take action on the Ex-Im Bank during the lame duck session of Congress!