Manufacturers’ Competitiveness Hampered Without Long-Term Reauthorization of the Ex-Im Bank

Congress Misses Opportunity to Give U.S. Exporters Certainty

Following House and Senate passage of a continuing resolution that temporarily reauthorizes the Export-Import (Ex-Im) Bank, National Association of Manufacturers (NAM) President and CEO Jay Timmons issued this statement:

"A bipartisan majority in both chambers of Congress acted to prevent the Ex-Im Bank from closing on September 30. However, they have not given manufacturers any more certainty with a short-term extension. It is critical to manufacturers and their employees that Congress accelerates its work to put in place a long-term solution as quickly as possible.

Manufacturers and our customers overseas operate based on long-term plans that often involve multiyear projects in which the Ex-Im Bank is a critical partner. Without the certainty of a long-term Ex-Im reauthorization, U.S. exporters will continue to be put at a significant disadvantage, which will hamper growth here at home and result in lost opportunities for American workers and small businesses."

To read the NAM’s report "Forfeiting Opportunity," which highlights the massive size and growth of export credit activity around the world and discusses the implications if the Ex-Im Bank is not reauthorized, click here.

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