AEM Continues Push for Ex-Im Bank reauthorization.
Press Release Summary:
June 30, 2014 - AEM joined National Association of Manufacturers (NAM) and U.S. Chamber of Commerce in signing letter to Members of Congress urging reauthorization of U.S. Export-Import Bank (Ex-Im) before its charter expires on September 30. Citing declining equipment exports, AEM president Dennis Slater said Ex-Im Bank reauthorization is "key to improving export shipments along with congressional passage of Trade Promotion Authority" as well as completion of specific trade agreements.
Original Press Release
AEM Continues Push for Ex-Im Bank Reauthorization
Press release date: June 24, 2014
The Association of Equipment Manufacturers (AEM) continued its push to ensure availability of competitive export financing for American companies: AEM joined in signing a National Association of Manufacturers (NAM) and U.S. Chamber of Commerce letter to Members of Congress urging reauthorization of the U.S. Export-Import Bank (Ex-Im) before its charter expires on September 30.
AEM actively engages in an Ex-Im business coalition led by NAM and the U.S. Chamber. Last year, Ex-Im supported $37 billion in exports that in turn sustained more than 200,000 American jobs at 3,400 companies, the letter said.
“Exports are essential to the success and job creation of equipment manufacturers and the economic well-being of our country. Supporting export opportunities is a top priority for AEM.” said Dennis Slater, AEM president. “Recent data show a decline in equipment exports. Ex-Im Bank reauthorization is key to improving export shipments along with congressional passage of Trade Promotion Authority and successful completion of the Trans-Pacific Partnership and Trans-Atlantic Trade and Investment Partnership trade agreements.”
The Bank’s support is especially important to small and medium-sized businesses, which account for nearly 90 percent of the Bank’s transactions. Tens of thousands of smaller companies that supply goods and services to large exporters also benefit from Ex-Im’s activities.
“If Ex-Im is not reauthorized before September 30, American companies would be put at a unique disadvantage in global markets, resulting immediately in lost sales and lost jobs,” the letter stated.
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