ICYMI: NYT Story Shows Disconnect Between Job Creators And Ideological Purists In Ex-Im Debate

Lindsey Graham Declares, “Im Going To Win” In Ex-Im Fight. “With the bank’s charter expiring on June 30, absent congressional action, the issue came up quickly when Mr. Graham spoke last week to a friendly coalition of 13 local chambers of commerce… After the moderator noted that Mr. Graham was at odds with ‘people in your own party,’ Mr. Graham shot back, to loud applause: ‘And I’m going to win!’” (Jackie Calmes, “Export-Import https://exportersforexim.org/files/2015/06/bank divides once-supportive republicans,” New York Times, 6/17/15)

Standard & Poor’s Calls The Possibility Of Ex-Im Expiration A “Worrisome Development.” “Supporters warn that even a temporary interruption would cost sales, prompt foreign rivals to raise doubts about the bank’s future and, at home, promote the sort of economic uncertainty caused in recent years by Congress’s brinkmanship over budgetary issues. Last week, Standard & Poor’s Rating Service cited the standoff as a worrisome development in its otherwise upbeat analysis of fiscal policy.” (Jackie Calmes, “Export-Import https://exportersforexim.org/files/2015/06/bank divides once-supportive republicans,” New York Times, 6/17/15)

Calmes Explains That Local Suppliers To Larger Companies Would Be Impacted By The Bank’s Closure. “Greenville is home to a GE facility that uses Ex-Im Bank financing to export gas turbines made by several thousand workers. Boeing, in North Charleston, employs about 8,000 people to build its 787 plane; seven out of 10 airplanes are sold with bank help, Mr. Graham said. Local suppliers to Boeing and G.E. also support the bank, along with other small businesses that benefit from the bank’s programs.” (Jackie Calmes, “Export-Import https://exportersforexim.org/files/2015/06/bank divides once-supportive republicans,” New York Times, 6/17/15)

Local Exporter Jay White Says “It’s A Shame When Politics Gets In The Way Of Business.” “‘The Tea Party has made Ex-Im sort of a poster child for excessive government. It’s not true,’ Mr. White said. Private banks ‘do not want to take this foreign risk on. They really can’t. Governments all over the world do a certain amount of country risk coverage, and make money at it’…’From our perspective as businesspeople, it’s a shame when politics gets in the way of business.’” (Jackie Calmes, “Export-Import https://exportersforexim.org/files/2015/06/bank divides once-supportive republicans,” New York Times, 6/17/15)