21/09/2016

Will US Ex-Im be fully online at the end of the month?

The Export-Import Bank of the United States (US Ex-Im), could be free to approve guarantees over $10 million by the end of the month if Congress approves a stop-gap financing amendment. This will allow the bank to legally function with only two board members rather than a full quorum of five, or a working board of three.

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Comments: 1
Kirsten Bartok Touw
Kirsten Bartok Touw

You neglect a few points. The lack of Ex-Im ability to fund deals over $10M significantly impacts many other US manufacturers, not just GE and Boeing. Gulfstream has many deals that require Ex-Im financing support or the sale will not be made. We are also aware of sales of Textron's Cessna that are being negatively impacted and don't for Sikorsky's helicopters in CT, and Agusta Westland's growing facility in Philadelphia, where their AW139 sales cannot be made because financing cannot be found. Lastly, one individual, Alabama's Republican Senator Shelby is standing in the way of both houses of Congress. Ex-Im authorization, when finally brought to the floor of the House last November, passed with overwhelming bipartisan support: 363 to 64. Shortly after, President Obama nominated a Republican (who used to be on Senate Majority Leader McConnell's staff) to be the third person on the Ex-Im Board. For almost a year, Senator Shelby refuses to even meet with Obama's Republican nominate, who was recently approved by the Senate for the NCUA Board by the committee Senator Shelby oversees. Is this really how democratic politics should work? That the majority will of Congress can be held hostage to one individual? U.S. jobs are being impacted. Please let me know who Senator Shelby is representing. It is certainly not hard working American. I too dislike the overwhelming money in U.S. politics, but please make sure to cover the whole story next time. This issue affects more than just Boeing and GE.

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