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NAM, Chamber Key Voting Ex-Im Vote NAM, Chamber Key Voting Ex-Im Vote

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NAM, Chamber Key Voting Ex-Im Vote

May 14, 2012
The National Association of Manufacturers told senators today this it will likely include the upcoming vote on reauthorizing the U.S. Export-Import Bank on its legislative scorecard, saying that the bank "levels the playing field for U.S. exporters by matching credit support other nations provide."

"Denying Ex-Im reauthorization will hurt manufacturers of every size and threaten thousands of U.S. manufacturing jobs," NAM's Aric Newhouse wrote to senators. "Small and medium-sized companies are particularly vulnerable - both those that receive direct Ex-Im Bank support as well as those that supply larger companies."

The Senate is expected to pass the reauthorization bill today, following the House's approval last week.

UPDATE: The U.S. Chamber of Commerce is also key voting the bill and any amendments that would limit the bank's authority.

"American taxpayers can cheer the fact that this bill would reduce the federal deficit by hundreds of millions of dollars," the Chamber's letter says. "Far from being a subsidy for corporations, Ex-Im charges fees for its services that have generated more than $4 billion in revenue for the U.S. Treasury over the past six years. Further, Ex-Im loans expose the U.S. taxpayer to little risk because they are backed by the collateral of the goods being exported."
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