Delays in Confirming Ex-Im Board Put U.S. Jobs at Risk

Washington, D.C., June 30, 2016 – National Association of Manufacturers President and CEO Jay Timmons and U.S. Chamber of Commerce President and CEO Tom Donohue issued the following joint statement calling on the Senate to act to restore a quorum to the Board of Directors of the U.S. Export-Import (Ex-Im) Bank:

“The Senate needs to vote on the nominee for the Ex-Im Board of Directors to get this important institution up and running again. Overwhelming majorities in both chambers of Congress voted to reauthorize the bank last year, and there should be no further delay in making it fully operational.

“The past few days have reminded all of us that global volatility poses significant challenges for U.S. businesses and manufacturers of all sizes. We must have every available tool to secure jobs at home and sell our products to customers overseas. The Ex-Im Bank is a critical tool, giving American workers the ability to compete and win in the global economy. But, one year after its authorization lapsed, the agency is still not fully functional. Without a quorum of board members, it cannot authorize certain transactions that will protect U.S. jobs. The games, delays and political maneuvering have gone on long enough and are damaging our economy.”

Ex-Im’s Board of Directors needs a quorum to fully operate and provide manufacturers and businesses with tools they need to reach the 95 percent of customers who are located outside the United States. Learn more about the importance of a fully functioning Ex-Im Bank to jobs and growth by clicking here.