It will take you about 10 seconds to urge your representatives in Congress to restore a major source of cargo to the American Merchant Marine. Please go now to http://tinyurl.com/CargoNeeded The U.S Export-Import Bank (Ex-Im Bank) supports millions of U.S. jobs and helps businesses of all sizes compete in a global economy. And 100 percent of all cargo financed by Ex-Im Bank transactions above $20 million must be carried on U.S.-flag vessels. While a super-majority of Congress approved a multi-year reauthorization about a year ago, the bank is not fully back at work. As a result of congressional inaction, the bank’s governing board is without a quorum and cannot approve loans of more than $10 million. As a result, businesses of all sizes in the United States–and their suppliers and workers–are still at a global disadvantage as foreign governments continue to use their own export credit agencies to support their exporters with generous export credit. Please go now to http://tinyurl.com/CargoNeeded As a result, American companies are facing lost sales and jobs. Pennsylvania-based Mack Trucks cannot close two multimillion dollar sales. To continue serving customers and bid on existing projects, GE Power announced that it would move 500 jobs from Texas, South Carolina and Maine to France, Hungary and China, where it could continue offering customers ECA financing to purchase its products. In all, more than 30 transactions valued at over $20 billion and affecting tens of thousands of U.S. jobs cannot be completed without a board quorum. All of the transactions that make up the $20 billion in backlog are subject to U.S.-flag shipping requirements. Please go now to http://tinyurl.com/CargoNeeded Earlier this year, identical language was adopted in both the House and Senate State & Foreign Operations appropriations FY 2017 bills that would temporarily modify the bank’s quorum requirement so that it may again review transactions over $10 million dollars. It is critical that Congress move forward with that language in the final spending bills to be completed during the lame duck session. Ask your representative and senator to support U.S. exporters and jobs in the United States by urging him or her to make the inclusion of this Ex-Im language a priority in the final spending package. Please go now to http://tinyurl.com/CargoNeeded The link will take you to a website where you can enter your zip code to generate a letter to your elected officials. It takes about 10 seconds. Let’s all work together and get this done!
«
»