AIA Releases Statement Following Lapse of Ex-Im Bank Authorization
[Via Satellite 07-02-2015] The Aerospace Industries Association (AIA) issued a statement from President and CEO David Melcher following U.S. Congress’ decision to let the bank’s charter expire on June 30.
“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,” Melcher said.
While Ex-Im bank continues to operate, it is unable to support new projects without reauthorization. The Satellite Industry Association has been a vocal supporter of the bank on behalf of the satellite industry. Last year Ex-Im bank said the satellite industry was it’s fastest growing sector, and that financing for the industry had increased in tandem.