The Machinists Union is urging passage of the United States Export Finance Agency Act of 2019 (H.R. 4863), which would sustain U.S. manufacturing and other strategic industries and improve the balance of trade between the U.S. and high export nations by reauthorizing the Export-Import Bank for the next 10 years.
The Ex-Im Bank is one of the few U.S. trade policies that actually supports U.S. exports and jobs by providing vital loan guarantees for the sale of U.S. goods and services to international markets. The bank’s mission is “to assist in financing the export of U.S. goods and services,” enabling “large and small companies to turn export opportunities into real sales that help to maintain and create U.S. jobs and contribute to a stronger national economy.”
IAM International President Robert Martinez Jr., recently sent a letter to House lawmakers, urging support of the legislation.
“American jobs depend upon a fully functioning Ex-Im Bank with a fully staffed board of directors to provide vital financing for the export of U.S. made products,” wrote Martinez.
The House Financial Services Committee was scheduled to consider the bill on the afternoon of Oct. 29.