A bipartisan group of nearly 30 governors sent a letter to congressional leadership this week asking for a long-term reauthorization of the Export-Import (Ex-Im) Bank:
“As the economies of our states continue to grow, the Ex-Im Bank is currently playing a vital role in promoting exports and jobs. In federal fiscal year 2014, the Ex-Im Bank supplied more than $20 billion in financing to support approximately $27 billion in exports. In that same fiscal year, the Ex-Im Bank supported more than 160,000 American jobs. And the overwhelming majority of the Ex-Im Bank’s transactions—nearly 90 percent—assisted small businesses.”
In a separate letter sent months ago, Governor Jay Nixon urged leadership’s support of the Bank because it is a “vital export finance tool that has helped Missouri companies sell their products overseas.” The letter says, “Over the past five years, Ex-IM has helped to support more than $1 billion of exports from almost 100 businesses across Missouri. As the official export credit lender of the United States, Ex-Im is a strong partner for exports from Missouri. I urge you to reauthorize the U.S. Export-Import Bank (Ex-Im) before its charter is scheduled to expire this year. Failure to reauthorize the agency’s operations will place Missouri companies at a serious disadvantage, leading to fewer exports and risking continued job growth in our state.”
Associated Industries of Missouri applauds Governor Nixon’s letter and the commitment of our Congressional delegation that has expressed support for the Ex-Im Bank.