Industry Associations Press Long-Term Ex-Im Renewal, Disregard CR Extension

The National Association of Manufacturers and 10 other trade associations urged House and Senate leadership to “expedite” legislation to reauthorize the Export-Import (Ex-Im) Bank with a “long-term” charter, while declining to mention support for or opposition to the 9-month extension included in the recently-introduced continuing resolution (see 14091001). The bank is a critical instrument to compete with other export credit agencies (ECAs) globally, said the letter, citing an argument commonly used by Ex-Im proponents. “There are more than 60 ECAs around the world, and many more that are aggressive in promoting their domestic companies and industries,” said the Sept. 10 letter. “Official ECA activity is particularly critical to key and growing manufacturing sectors of the global economy, including infrastructure and transportation where manufacturers in the United States are well positioned to grow in related exports if competitive financing is available.” Many congressional supporters of the bank, mostly Democrats, are pressing for a five-year extension at minimum in order to maintain confidence of the business community.