Just Ten Days

Just Ten Days

When Congress returns from its August break, there will be only 10 days for legislative business before the general election season heats up and lawmakers leave the Capitol again until mid-November. Senate Majority Leader Reid (D-NV) has warned his chamber that weekend sessions may be necessary, but in the House a prime priority for electroindustry companies is not even on the September schedule.

As this is being written, the U.S. Export-Import Bank (Ex-Im) has only 35 days before its charter expires – little more than a month before it would have to cease supporting U.S. exporters through financing, credit guarantees and other tools. The Bank’s uncertain future has already injured U.S. companies that require Ex-Im financing to make sales abroad – financing not available from private-sector banks. As noted earlier, the prospect that the main U.S. export credit agency might be gone in October is only good news for foreign competitors and is very bad news for the electroindustry.

NEMA supports timely reauthorization of the U.S. Export-Import Bank. To urge your Members of Congress to do the same, click here or contact me for assistance.

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