Manufacturing Group Says Lapse of Ex-Im Bank Will Hurt U.S. Economy (Talk Business and Politics)

“If American jobs are a lawmaker’s priority, then a vote to reauthorize the Ex-Im Bank should be an easy ‘yes,’” NAM President and CEO Jay Timmons said in a statement. “Real jobs are on the line, and manufacturers will be watching to see if Congress stands with working Americans or with a vocal minority who undermine our economic competitiveness.”

But NAM countered on Monday that the shuttered bank directly supports more than 100,000 American jobs tied to exports.
“Small businesses are missing out on the chance to sell products overseas, and workers are losing out on job opportunities,” Timmons said. “Meanwhile, our foreign competitors are seizing billions of dollars’ worth of opportunities, thanks to the more than 80 foreign export credit agencies that give them a strategic advantage.”

Last week, NAM released a white paper, titled “Ex-Im Lapse Hurting U.S. Manufacturers,” showing how U.S. manufacturers of all sizes across the country will be hurt if Congress does not reauthorize legislation to reopen the bank. NAM has also recently developed a new portal highlighting how Ex-Im dollars supports companies and jobs in every state. In Arkansas, NAM data shows that financing to 44 companies from the bank in 2014 supported $713 million in export sales and the creation of 4,555 jobs across the state.

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