The US Export-Import (Ex-Im) Bank is expected to have its re-authorisation approved by Congress today following a push by Senator Charles E. Schumer.
Schumer has pushed to make the case that Ex-Im Bank provides financing to foreign companies in order to help them purchase U.S. goods
“The Ex-Im Bank has been one of the key tools in our toolbox for supporting and growing manufacturing jobs across New York State for a generation – which is why casting that critical resource aside and letting the bank expire last year was short-sighted and wrong. I’m pleased to announce that today, after pushing my colleagues over the past year, Congress is set to re-authorize the Export-Import Bank and once again make it clear we will do all we can to help level the playing field for our Long Island companies and support our manufacturing workers. Making it easier for companies – small, medium and large – to do business abroad will mean supporting good-paying, middle-class jobs back home,” said Schumer.
This is great news for airlines and of course Boeing. Congress is due to finalise the approval later today.