Manufacturers applaud passage of Ex-Im reauthorization

The National Association of Manufacturers (NAM) applauded the passage of legislation that included a multiyear reauthorization of the U.S. Export-Import (Ex-Im) Bank. The reauthorization, which was included in a long-term transportation and infrastructure funding bill, now heads to President Obama’s desk for his signature, effectively reopening Ex-Im’s doors and restoring a critical trading tool for manufacturers of all sizes in the United States.

“After months of pointless and harmful delays, reauthorization of the Ex-Im Bank has received final approval from a bipartisan congressional majority,” said NAM President and CEO Jay Timmons. “This is a victory for manufacturers of all sizes as well as for workers here in the United States. The Ex-Im Bank is critical to keeping America competitive in the global economy. Unfortunately, a small but vocal minority of House members let the bank lapse in the first place.”

“The Ex-Im Bank supports jobs at small manufacturing companies across this country, so the passage of this bill is great news for the families who depend on those jobs,” said Neenah Enterprises, Inc. President and CEO and NAM Small and Medium Manufacturers Group Chair Tom Riordan. “We’re glad that Congress finally listened to the voices of manufacturers. We will never be afraid to speak out and hold our leaders accountable when congressional action—or inaction—threatens our competitiveness. But today, we simply say ‘thank you.’”

Timmons joins small businesses and members of Congress to push for a long-term Ex-Im reauthorization. (Photo by David Bohrer, NAM.)

The National Association of Manufacturers (NAM) is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 12 million men and women, contributes $2.09 trillion to the U.S. economy annually, has the largest economic impact of any major sector and accounts for more than three-quarters of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the National Association of Manufacturers or to follow us on Shopfloor, Twitter and Facebook, please visit www.nam.org.~