House Lawmaker Calls Ex-Im Extension a 'Death Knell'

Republicans are trying to give a “death knell” to the Export-Import Bank through its short-term extension in the funding measure passed by the House on Sept. 17, said House Financial Services ranking member Maxine Waters, D-Calif. “By isolating the expiration of the Bank’s charter from any other must-pass legislation, Chairman Hensarling and his ideological stalwarts are counting on increased partisan gridlock to shutter the institution in July,” said Waters in a statement, referring to staunch critic of the bank, Financial Services Committee Chairman Jeb Hensarling, R-Texas. “Although Mr. Hensarling believes this could ultimately result in the Bank’s demise, he and Mr. McCarthy should be ready for Democrats and Republicans to engage in a tireless, bipartisan effort to preserve the Bank, and ensure America’s businesses continue to compete in the global economy.” House Majority Leader Kevin McCarthy, R-Calif., has also opposed the bank. Waters voted for the Continuing Appropriations Resolution 2015, H.J.Res.124 (here). Meanwhile, Boeing also said the short-term extension will damage investor confidence. "Congress has left thousands of small, medium and large U.S. exporters and their workers in limbo until the middle of next year and this will likely negatively impact U.S. sales to foreign customers," said Boeing in a statement. "We will continue to press Congress for a multi-year reauthorization of Ex-Im." Boeing is one of the biggest participants in Export-Import Bank financed contracts. National Associations of Manufacturers official Linda Dempsey also urged a long-term extension in a Sept. 17 letter, while calling on lawmakers to first support the continuing resolution. "While extending Ex-Im Bank’s reauthorization in the CR will address the short-term crisis facing manufacturers, their employees, and their families, Congress’ job is far from over," said Dempsey in the letter. "Manufacturers of all sizes require a long-term, multi-year reauthorization to help grow sales overseas and jobs here at home."