So just what is the Ex-Im Bank, exactly, and why is it important to manufacturing?
The Ex-Im Bank is the official export credit agency of the United States and essentially helps U.S. companies boost the competitiveness of their exported products by offering financing to foreign buyers. The bank’s charter lapses on September 30, and without congressional reauthorization, it will cease to exist. At this point, its fate is uncertain. As many other major exporting countries offer the same kind of financing support for U.S. competitors, eliminating Ex-Im Bank has the potential to diminish U.S. global competitiveness.
Joining more than 800 other organizations, including the National Association of Manufacturers and the U.S. Chamber of Commerce, AMT signed a multi-industry letter of support for reauthorization to be sent to Congress. But we’re also counting on the support of manufacturers everywhere to personally contact their legislators and urge reauthorization of this important program. Visit the AMT Legislative Action Center to get connected directly to your elected officials!