This week the House is expected to vote on the reauthorization of the Export-Import Bank. Late last week Majority Leader Cantor and Minority Whip Hoyer came to an agreement on a deal that will extend the Bank’s lending limit to $140 billion through 2014.
This is great news for manufactures and we are urging all members of the House to support this commone sense reauthorization that will support jobs and exports. Today, NAM Senior Vice President for Policy and Government Relations sent a Key Vote letter to members of the House urging support.
From the letter:
The Ex-Im Bank levels the playing field for U.S. exporters by matching credit support other nations provide, ensuring that our nation’s manufacturers can compete based upon the price and performance features of their products. It also enables small and medium-sized manufacturers to capture new markets in emerging economies abroad. In FY2011, the Bank supported more than $41 billion in export sales from more than 3,600 companies, supporting approximately 290,000 export-related American jobs.
Denying Ex-Im reauthorization will hurt manufacturers of every size and threaten thousands of U.S. manufacturing jobs. Small and medium-sized companies are particularly vulnerable – both those that receive direct Ex-Im Bank support as well as those that supply larger companies.