TO THE MEMBERS OF THE UNITED STATES SENATE:
The U.S. Chamber of Commerce is a longstanding supporter of the Export-Import Bank of the United States (Ex-Im) and strongly urges you to support the nominations of Kimberly Reed, Judith Delzoppo Pryor, and Spencer Bachus, which would restore the Export Import-Bank of the United States (Ex-Im) to full functionality. The Chamber will include votes on these nominations in our annual How They Voted scorecard.
Ex-Im plays a vital role in supporting U.S. exporters by leveling the trade finance playing field for American companies, which often face tough competition from foreign companies that enjoy significantly more generous official export credit assistance from their home agencies. Without Ex-Im’s support, U.S. exporters are competing for customers with one arm tied behind their backs.
Confirmation of these nominees — all of which have been reported out of the Senate Banking Committee with overwhelming bipartisan support — would ensure that Ex-Im can get back to its critical mission. There is currently a backlog of nearly $40 billion in pending deals awaiting board approval at Ex-Im, deals which would support well-paying American jobs. A quorum on Ex-Im’s board would also finally ensure that many of the reforms which Congress mandated in the 2015 reauthorization are implemented.
In addition, the Chamber stands ready to work with Congress to secure reauthorization of this important agency before its charter expires this September.
It is time to restore Ex-Im to full working order to allow it to support export-driven growth and job creation.
Sincerely,
Jack Howard
