|Boeing airplanes, produced by IAM members, are often sold to foreign airlines with the help of financing from the U.S. Export-Import Bank.|
A far-right minority in Congress has put the U.S. Export-Import (Ex-Im) Bank, a crucial tool for creating and sustaining American jobs, at the brink of extinction. GOP leadership caved to Tea Party demands and the bank is no longer granting new loans after June 30, 2015. Hundreds of thousands of U.S. jobs, many in manufacturing, rely on loans the credit agency provides to foreign companies to buy American-made products, including airplanes.
Foreign competitors like China, India, France and Germany all have foreign export credit agencies that dwarf the amount of financing the U.S. provides through the Ex-Im Bank. Letting the credit agency die for good means more good paying American jobs will go overseas and a deepening of our already massive trade deficit.
Don’t let far-right ideology kill a government agency that actually works for American workers, without adding a dime to the federal deficit.