AIA Applauds House Passage of Long-term Export-Import Bank Reauthorization Bill, Urges Senate to Pass Reauthorization Legislation

Statement by Aerospace Industries Association President and CEO Eric Fanning

Arlington, Va. — Today, the U.S. House of Representatives took a critical step toward reauthorizing the U.S. Export-Import Bank (Ex-Im Bank), passing a bill that will provide long-term certainty for the aerospace sector and support industry jobs. This bill provides a 10-year reauthorization, increases the authorization ceiling, and includes a quorum fix to afford the Bank the flexibility and stability needed to execute its mission of bolstering American competitiveness in the global market.

The Ex-Im Bank is a valuable tool for supporting exports in the aerospace industry—the leading export industry in the U.S. manufacturing sector with an annual trade surplus of nearly $90 billion. Today’s vote sends a clear message that America is serious about taking the necessary steps to ensure our exporters can compete on a level playing field against foreign competitors.

The clock is still ticking until reauthorization is signed into law, and the long-term success of American industry is on the line. We urge Senate leadership to support a fully operational Export-Import Bank and swiftly bring legislation to the floor for a vote before the Bank’s charter expires on November 21.

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Veronica Bonilla
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Veronica.Bonilla@aia-aerospace.org