The U.S. Export-Import Bank (Ex-Im) is a vital tool to help grow U.S. exports and increase American jobs. As the official export credit agency of the United States, Ex-Im Bank assists in financing U.S. exports from thousands of American companies and bolsters our global competitiveness. In fact, nearly 90 percent of Export-Import Bank’s transactions directly support U.S. small business. Ex-Im Bank operates at no cost to the taxpayer, and it has a track record of generating a profit for the government. Last year alone, the Bank sent $1 billion to the U.S. Treasury.
The U.S. Export-Import Bank’s current charter is set to expire in September 2014, and a lapse in authorization would threaten the competitiveness of manufacturers in the United States—particularly small and medium-sized manufacturers. Manufacturers are urging Congress to move quickly to pass a reauthorization of the Ex-Im Bank. When Ex-Im Bank was last reauthorized in 2012, the legislation received broad bipartisan support in both the House and Senate.
Click here for a recent op-ed by NAM President & CEO Jay Timmons on the importance of Ex-Im Bank and its mission to support U.S. jobs through exports.