ARLINGTON, Va. (AIA PR) — The Aerospace Industries Association strongly supports the nominations of Kimberly Reed, Claudia Slacik and Judith Pryor to the Ex-Im Bank Board of Directors and urges the Senate to confirm them, along with previous nominee Spencer Bachus. This group exhibits the track record of leadership and belief in the mission of the Bank to restore it to full functionality.
For far too long, the Bank has been languishing without a quorum of at least three members on its Board, unable to fulfill its mission or process transactions exceeding $10 million, and we urge Chairman Crapo (R-Idaho) to schedule hearings on these nominees as quickly as possible. By the bank’s latest estimate, more than $30 billion dollars of U.S. export sales are unable to be completed without a board quorum.
AIA continues to oppose the nomination of Scott Garrett as Chairman of the Ex-Im Bank due to his stated opposition to the Bank’s mission and we urge President Trump to withdraw his nomination. Aerospace companies — small, medium and large — need a Chairman and a full slate of Ex-Im Board members who will bolster American export sales opportunities that lead to job growth here at home. Our companies, workforce and nation deserve an Ex-Im Bank with leaders who are fully committed to the success of Ex-Im and to removing any barriers to its full functionality.
The aerospace and defense industry contributes the largest positive trade balance of any U.S. industry – more than $90 billion in 2016 – and supports more than 2.4 million jobs in the United States, including 13 percent of our nation’s manufacturing workforce. We have enormous potential to advance President Trump’s priority of creating more American jobs, provided we can compete on a level playing field in the markets around the world where our products and innovation are in high demand.