AEM Applauds Reauthorization of Ex-Im Bank

AEM says passage of the bill to reauthorize the Export-Import Bank is vital to heavy equipment manufacturers.

Association of Equipment Manufacturers (AEM) President Dennis Slater issued the following statement in support of the bipartisan passage of H.R. 4863, which reauthorizes the U.S. Export-Import Bank: 

“Exports are imperative to equipment manufacturers and to a robust U.S. economy,” said Dennis Slater, President of AEM. “With about 30% of equipment made in the U.S. destined for export, it’s important to our industry to help facilitate trade and ensure a level playing field in the global marketplace. The Ex-Im Bank helps do that by securing credit and export assistance for equipment manufacturers so that they can export more of their products globally. We now urge the U.S. Senate keep the momentum going by swiftly voting in favor of the Ex-Im Bank’s reauthorization. By doing so, they will help keep our industry vibrant and the support our industry’s 1.3 million men and women.”  

The U.S. House of Representatives voted 235-184 in favor of the bill. The Export-Import Bank is especially important to small and medium-sized businesses, which account for nearly 90% of the Bank’s transactions. The bill also renames the bank to the “Export Finance Agency.”

AEM Senior Vice President of Government and Industry Relations Kip Eideberg also released a statement thanking lawmakers for their votes in favor of reauthorizing the United States Export-Import Bank.

“We thank Representatives Brian Fitzpatrick (PA-01), Sam Graves (MO-06), Duncan Hunter (CA-50), John Katko (NY-24), Adam Kinzinger (IL-16), Billy Long (MO-07), Blaine Luetkemeyer (MO-03), Dan Newhouse (WA-04), Tom Reed (NY-23), Martha Roby (AL-02), Elise Stefanik (NY-21), Fred Upton (MI-06), and Ann Wagner (MO-02) for standing up for equipment manufacturers and the 1.3 million men and women of our industry,” said Eideberg. “It is because of their steadfast leadership that we are now one step closer toward reauthorization of the Ex-Im Bank.” 

Eideberg continued, “Our industry needs the long-term certainty that the Ex-Im Bank will continue to help equipment manufacturers of all sizes secure new sales overseas that support well-paying jobs in America. The United States Export Finance Agency Act of 2019 will help do just that and is an important step forward toward reauthorization. The bank supports millions of family sustaining jobs across the country, helping families buy groceries, pay bills, and invest in their children’s education.

"Equipment manufacturers appreciate the bipartisan efforts of Representatives Fitzpatrick, Graves, Hunter, Katko, Kinzinger, Long, Luetkemeyer, Newhouse, Reed, Roby, Stefanik, Upton, and Wagner to move forward a robust Ex-Im Bank reauthorization and urge Republicans and Democrats in the House and the Senate to work together to reauthorize the agency this year.”

The 13 Republicans joined their Democratic colleagues to vote 235-184 in favor of the bill. The Ex-Im Bank supports 5,073 jobs in Alabama, 149,005 jobs in California, 46,722 jobs in Illinois, 59,693 jobs in Michigan, 9,397 jobs in Missouri, 64,861 jobs in New York, 39,858 jobs in Pennsylvania, and 820,569 jobs in Washington.