ICYMI: Shutting Down Ex-Im Bank Is “Playing With Fire”
Today, Congress is preparing to take an important step forward to reauthorize the Export-Import (Ex-Im) Bank. For job creators across the country, this cannot happen quickly enough.
As Cindy Lewis, President and CEO of AirBorn Inc. said, “Congress is playing with fire when it attacks the export economy by shutting down the federal Export-Import Bank.”
Please read below to see what lawmakers and job creators across the country have to say about Ex-Im. For more stories on the impact Ex-Im’s lapse has had on your state, please click here.
CALIFORNIA: Ex-Im Is “Vital” To Competition And Growth For U.S. “Approximately 95 percent of the world’s consumers live outside the U.S. This means that exports are more crucial than ever when it comes to increasing our nation’s competitive edge and advancing job opportunities for American workers. Since 2009, approximately one-third of our economic growth has been a result of exports – and Ex-Im is vital to our nation’s trade competitiveness and continued growth in exports.” (Rep. Mimi Walters, “O.C. Economy Needs Export-Import Bank Restored,” Orange County Register, 10/25/2015)
OHIO: Ex-Im Helps Ohio Reach “Extraordinary Potential.” “‘This tour was about supporting job creation and building globally competitive industries in Northern Ohio’s manufacturing corridor,’ said Rep. Kaptur. ‘Meeting with business owners and workers made this absolutely clear: local manufacturing in our region has extraordinary potential. The U.S. Export-Import Bank is an important source of support that can, and does, help these hard working Ohioans reach for that potential.'”(Beacon Staff, “Rep. Kaptur Ex-Im Lake Erie Coastal Tour Highlights Northern Ohio Jobs, Growth,” The Beacon, 10/24/2015)
ILLINOIS: Export-Import Bank Is A “No-Brainer For Illinois And The U.S.” “Sen. Kirk understands [Ex-Im] is a no-brainer for Illinois and the U.S. –- supporting good-paying manufacturing and agricultural jobs in the state and helping American companies compete in a fierce global economy. Without the Bank, exporters in Illinois risk losing sales to their foreign competitors, whose governments provide these tools to their own companies.” (Mark Denzler, “Guest View: Kirk’s Leadership Helps Business,” Southern Illinoisan, 10/25/2015)
PENNSYLVANIA: Ex-Im Supports Pennsylvania Businesses Of All Sizes. “Reauthorization of the bank is critical for GE Transportation to be able to arrange financing to sell locomotives overseas, but other Pennsylvania companies also rely on loans for customers or insurance on loans for their businesses. Karl Brown, owner of SB Global Foods in Montgomery County, told the Intelligencer newspaper that his company is having trouble exporting marshmallows to Denmark because its export partner can’t get commercial insurance.” (Staff, “Our View: Thumbs Up For Ex-Im Bank Vote, Finally,” Erie Times-News, 10/24/2015)
TENNESSEE: Rep. Fincher: Without Ex-Im, “The Only Thing Our Country Will Be Exporting Is Jobs.” “As long as the future of the Ex-Im Bank remains uncertain, our global competitors — financed by their own export credit agencies — will continue to secure large export deals. And as long as that continues, Congress is unilaterally placing U.S. companies at a competitive disadvantage against our foreign challengers. If Congress does not get this done, the only thing our country will be exporting is jobs.” (Rep. Stephen Fincher, “Guest Column: Fighting For West Tennessee Jobs,” Commercial Appeal, 10/25/2015)
TEXAS: AirBorn CEO: Shutting Down Ex-Im Is “Playing With Fire.” “Congress is playing with fire when it attacks the export economy by shutting down the federal Export-Import Bank. The bank has been a vital cog in our export system, providing loans and insurance to help American companies sell their products overseas. Despite its importance to the economy — the bank supported nearly $30 billion in exports last year — it remains under assault from tea-party leaders.” (Cindy Lewis, “Tea-Party Zealots Fast Crippling U.S. Business Efforts Abroad,” Waco Tribune, 10/25/2015)