Business Roundtable CEOs are calling on Congress to pass a multi-year reauthorization of the U.S. Export-Import (Ex-Im) Bank as soon as possible.
In a letter to House and Senate leadership, Thomas Linebarger, Chairman and Chief Executive Officer of Cummins Inc. and Chair of the Business Roundtable International Engagement Committee, detailed what’s at stake:
- “[I]n FY2014, [the Ex-Im Bank] provided financing for $27.5 billion worth of U.S. exports through its approval of over 3,700 transactions for U.S. companies, including more than 3,300 for small businesses.
- “These exports supported an estimated 164,000 American jobs at these companies as well as companies in their U.S. supply chains.
- “… If Congress fails to reauthorize Ex-Im Bank, it will threaten the ability of thousands of U.S. companies to compete for international sales and put hundreds of thousands of U.S. jobs at risk.
- “… Congress should not make it harder for U.S. companies to compete for and win sales around the world. Failure to reauthorize Ex-Im Bank would unfairly advantage foreign competitors.”