The U.S. Chamber of Commerce and the National Association of Manufacturers (NAM), we are writing to seek your support for legislation to reauthorize the Export-Import Bank of the United States (Ex-Im). Ex-Im Bank’s charter expires on June 30, and Congress needs to hear from you. For those of you who signed a nearly identical letter last June, we hope to be able to again list your organization as a signatory of our letter to Congress. The full text of the 2015 letter can be accessed here, and you can sign on to the letter here. Please add your organization’s name by Tuesday, May 19.
Last year, Ex-Im supported exports that in turn sustained more than 164,000 American jobs at thousands of companies. It is especially important to small and medium-sized businesses, which account for nearly 90 percent of the Bank’s transactions.
Overseas markets offer huge opportunities, but the playing field for U.S. companies is not always level. Every other major trading nation has its own equivalent of Ex-Im, and in recent years they have provided nearly a half a trillion dollars of support annually for their exporters-about 18 times more what Ex-Im has provided to U.S. exporters. If Ex-Im is not reauthorized, American companies, particularly our smallest manufacturers, would be put at a substantial disadvantage in global markets, resulting in lost sales and lost jobs.
We hope that you will join us in calling for Ex-Im’s prompt reauthorization by signing your organization on to our letter to Congress. The Chamber and NAM are working together to finalize our rollout plan for the letter, which includes delivery to every Member of both the House and Senate as well as in print ads in select Washington-based newspapers, showcasing the impressive list of companies and associations that support this effort.