The battle of hearts and minds over the Export-Import Bank of the United States reauthorization continued its serious path this week in Washington DC with volleys continuing back and forth and down the halls of Congress. Both sides of the issue lobbed facts and claims into the fray. We did as well.
Our advertisement in Politico challenged some Republicans to consider their Reagan roots again and support the bank as the president did - and every president for the last 80 years regardless of affiliation. Conversely, House Financial Services Chairman Jeb Hensarling (R) of Texas declared victory in his "year-long quest to kill an obscure government bank" in a story in Politico.
The bank sure isn't obscure to our industry and many others across the country.
It's shocking to me to see conservative Republicans crowing about shutting down a bank that so thoroughly supports America's competitiveness in the international market and bolsters thousands of U.S. jobs. And why do these Republicans remain blind to the support the bank provides to thousands of small businesses across the country?
At its core, the Ex-Im Bank returns billions of dollars back into the US Treasury. It levels the international playing field for a wide-range of American businesses, including ours, who compete across the globe against foreign companies and their export banks. Ex-Im is poised to retain this competitive balance if it is reauthorized.
The week, the Senate showed widespread support for the bank in a procedural vote. Republican hard-liners are predicting that they have the votes to stop reathorization altogether. This is the political circus Ex-Im Bank has become.
If nothing is done, both sides agree that the bank's charter will expire at the end of June. This can't happen. AIA chairman David Joyce and vice chairman Marillyn Hewson sent House and Senate leadership a letter in support of Ex-Im Bank reauthorization on behalf of AIA’s 300 member companies.
If you feel as strongly as we do, go to our AIA Second to None Coalition section of our website under Issues and access the "Support the Export-Import Bank of the United States Now!" action alert and send a custom letter to your elected representatives.
Tell them you support American industries and American jobs. It's a good thing.