AIA Urges Confirmation of Kimberly Reed as Chair of Ex-Im Bank
June 20, 2018
Arlington, Va. — The Aerospace Industries Association welcomed today’s announcement of the nomination of Kimberly Reed as President and Chair of the Board of Directors of the U.S. Export-Import Bank and strongly urge the Senate to quickly confirm her nomination, along with the other Board nominees.
“The Ex-Im Bank is incredibly important to our industry’s competitiveness in the global market,” said AIA President and CEO Eric Fanning. “More than $40 billion in American exports have been stalled while we wait on these nominations. We need the Bank to offset our foreign competitors’ advantage so our industry can grow manufacturing jobs in the United States.”
Ms. Reed understands the critical role that the Bank plays in supporting American manufacturers of all sizes. As she noted during her confirmation hearing for the Vice Chair position at the Bank, without a functional export-finance agency the United States is practicing economic “unilateral disarmament.” We similarly support the nominations of Spencer Bachus, Claudia Slacik and Judith DelZoppo Pryor to the Board which await action in the Senate and would restore the Bank to full functionality.
Aerospace and defense generated $143 billion in exports last year, creating a trade surplus of $86 billion and maintaining 2.4 million high-skill and high-wage American jobs. Companies in the industry’s supply chain accounted for 56% of our industry’s exports last year. With a fully functioning Ex-Im Bank, our industry is poised to do even more.