US House Misses Boat on Exim

tags: exporting, USA
Posted by: Global Chamber on Monday, June 29, 2015

We're sad to write that conservatives in the U.S. House of Representatives put politics ahead of common sense as they abandoned U.S. exporters and the Export-Import Bank of the United States. After 70 years of success, the Exim Bank lapses on July 1st.

The argument for U.S. exporters has been made over and over again. This article isn't a point by point defense of Exim. It's obvious. It's been done. It's a no brainer.

The real point to make at this point is, what in the world is wrong with these people that they'd hurt U.S. companies competing on world markets?

We often get the question, 'Does Global Chamber do any advocacy?' And honestly until now we never really thought so. We usually say that we take non-controversial stances on issues that create more trade. Simple. Exim Bank is one of those non-controversial issues. You'd only support it if you wanted U.S. exporters to succeed, and only play with it if you had no understanding of exporting, or would put politics ahead of common sense.

What does that say about Rep. Jeb Hensarling (R-TX) and the other conservatives who have taken Exim Bank to the brink after 70 years of success? Not much, we think.

The general thinking seems to be that wiser heads will prevail and the inaction will be followed fairly quickly by action that supports exporters and job creation. In the meantime customers of U.S. exporters around the globe will be wondering, why are U.S. legislators so unsupportive of U.S. companies?

How could their priorities be so misguided?

How could they miss the export boat so badly?

Why, indeed.

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