Statement by Aerospace Industries Association President and CEO David F. Melcher urging Congress to hold a vote to re-authorize the U.S. ExIm Bank.
Arlington, Va. — With the news today that a $1.1 billion order for Boeing jetliners by a South African airline is at risk of cancellation, and the recent announcements of three lost U.S. commercial satellite sales, it is clear that the failure of Congress to re-authorize the U.S. Export-Import Bank is causing the American aerospace industry to lose ground against its foreign competitors, and potentially thousands of workers to lose their jobs.
Appeared in the Sept. 14, 2015 edition of Defense News, on page 37. By John J. Hamre and David F. Melcher.
Shutting down Ex-Im would also threaten American national security interests. American aerospace and defense companies have relied on overseas markets, particularly commercial markets serviced by Ex-Im loans, to keep the defense industrial base healthy as U.S. defense spending has declined. Without Ex-Im, U.S. industrial production will decline, with fewer revenue and jobs throughout the aerospace and defense supply chain, leading to higher unit costs for the military systems our armed forces buy. The same dynamic occurred in the shipbuilding sector in the 1980s with devastating results that continue to be felt today.
Last year, 124 Ohio companies did $427 million worth of business selling transportation equipment, motor vehicle parts, manufactured chemicals, wood products and other goods to foreign purchasers with the help of financial assistance from the Export-Import Bank of the United States. Unfortunately, some lobbyists with a rigid ideological agenda want to kill off the bank without regard for the good Ohio jobs that will be lost in the process.
Arlington, Va. — The Aerospace Industries Association is very pleased that the Senate has attached an amendment reauthorizing the Export-Import Bank of the United States to the Transportation bill that passed the Senate today. Ex-Im Bank supports roughly 164,000 American jobs across the United States and is an important tool in enabling U.S. exporters to remain competitive in the global marketplace.
Statement by Aerospace Industries Association President and CEO David F. Melcher on Congress allowing the authorization of the Export-Import Bank to lapse
Arlington, Va. —Today Congress missed an opportunity to support thousands of American jobs at firms across the nation that are striving to compete in a global marketplace tilted against them by foreign governments and subsidized competition. Despite the Export-Import Bank of the United States having the support of broad bipartisan majorities in both chambers of Congress, a small minority has prevented a vote reauthorizing this important export financing tool for U.S. exporters.
Rep. Maxine Waters (D-Calif.) read AIA's "Why all the Applause?" ad in Politico into the Congressional Record at a Joint House Financial Services and Oversight Subcommittee hearing examining the status of Export-Import Bank reforms Wednesday, April 15.
One-hundred supplier companies from around the country participated in AIA’s spring Supplier Management Council (SMC) meeting in Washington March 23-25, and met with members of Congress and staff to advocate for key aerospace and defense industry priorities.
The 113th Congress will soon be in the history books, with a record for advancing long-term economic growth that's spotty at best. Indeed, there are a couple of significant actions legislators could take that would tangibly benefited jobs creation and business performance.