COLUMBUS — Manufacturers in Ohio have called on Congress to pass a long-term reauthorization of the U.S. Export-Import Bank (Ex-Im) after the bank’s charter lapsed last month.
“Elected officials in Washington returned to their home states and districts without finishing their work to reauthorize the U.S. Ex-Im Bank,” said Ryan Augsburger, managing director, public policy services, for the Ohio Manufacturers’ Association. “As a result, manufacturers and exporters in Ohio are now at risk of losing vital business opportunities and the jobs that come with them. While manufacturers in the United States languish, our foreign trade competitors are moving forward aggressively to reap the gains of Congress’ inaction. Our nation’s job creators and their employees cannot afford to wait any longer. We strongly urge Congress to vote on a long-term reauthorization of the Ex-Im Bank as soon as policymakers return from the July recess.”
The Ex-Im Bank supports 15,300 jobs in Ohio and more than 1.2 million manufacturing jobs across the country.
“It defies reason and logic that some members of Congress believe eliminating the Ex-Im Bank will strengthen our country,” said Jay Timmons, National Association of Manufacturers president and CEO. “Shutting down the bank would do the exact opposite. One would hope that Ex-Im opponents would apply their energy and time to reducing or eliminating government spending that doesn’t create jobs or grow our economy instead of programs that do. Manufacturers and all Americans are counting on Congress to end the political games and revisit reality. The more than 60 foreign export credit agencies the United States competes against are not going away. It’s time to allow a bipartisan majority of Congress to reauthorize a tool that we need to enhance America’s free enterprise system against aggressive foreign competitors and level the playing field for manufacturers to win business for more U.S. jobs.”
This article was submitted by the Ohio Manufacturers’ Association.