AIA Backs Renewal of Export-Import Bank

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Statement by AIA President and CEO Marion C. Blakey

The Aerospace Industries Association strongly supports the bipartisan amendment offered by Sen. Maria Cantwell (D-Wash.) and co-sponsored by Sen. Lindsey Graham (R-S.C.), which reauthorizes the Export-Import Bank through September 30, 2015, and increases the cap on its lending authority.  Without the passage of this amendment the bank runs the risk of losing its important ability to help American companies export.

The bank’s financing efforts directly support more than 290,000 jobs throughout the country.  In addition, the bank is self-sustaining and actually generates a profit for U.S. taxpayers – returning more than $4 billion in revenue over the last six years.

In an era of increasing budget austerity, we need every contribution to deficit reduction that we can find.  The shrinking U.S. federal budget makes it imperative that U.S. companies increase exports of their products.  The Export-Import Bank makes possible many of those exports, leveling the playing field with foreign competitors while growing the economy and contributing to deficit reduction.  It’s a true win-win for our nation.

We strongly urge passage of the Cantwell-Graham amendment.