Machinists Union Thanks Secretary Clinton For Consistent Support of the Export-Import Bank

Washington, D.C., October 28, 2015 – “With her strong and consistent support for the Export-Import (Ex-Im) Bank, Secretary Clinton has again demonstrated why she is the leading candidate for President of the United States,” said IAM International President Tom Buffenbarger.

“While some presidential candidates falsely claim that the Ex-Im Bank is ‘corporate welfare,’ Secretary Clinton knows that the evidence is clear; the export financing provided by the Ex-Im Bank delivers vital and necessary support for U.S. exports and American jobs.

“The Ex-Im Bank is the only federal institution that makes it possible for U.S. manufacturers and workers to compete fairly with our global competitors, particularly in the aerospace industry, one of the last sectors in which the U.S. enjoys a positive balance of trade with the rest of the world.

“According to the Organization for Economic Cooperation and Development more than $1 trillion in trade financing has been provided recently by sixty export credit agencies (ECAs) across the globe, including the three ECAs supported by the Chinese government. Secretary Clinton understands that America cannot afford to unilaterally disarm in the face of this intense global competition.

“Secretary Clinton has our grateful thanks for her unwavering support for the Ex-Im Bank. As President, we know that her leadership will ensure that the Ex-Im Bank will continue to be an engine of economic growth and job creation.”

The IAM was the first major industrial trade union to endorse Secretary Clinton for President and represents nearly 600,000 active and retired members across North America. Visit www.goiam.org for more information about the Machinists Union.