The Export-Import (Ex-Im) Bank is a critical tool that supports North Carolina’s exporting businesses and manufacturers, and it’s facing a looming September 30 deadline for reauthorization. The NC Chamber is urging our congressional delegation to support bipartisan legislation that would reauthorize this important entity.
For North Carolina businesses seeking to compete on the global stage, support provided by the Ex-Im Bank can be a key factor when deciding to export. The Bank provides loans and loan guarantees to businesses of all sizes when other financing is unavailable. The Bank has supported 1.7 million jobs over the last ten years and has generated $9.6 billion for American taxpayers since 1992. Other nations have similar financing tools in place that fund hundreds of billions of dollars for their businesses. Maintaining a level playing field for North Carolina exporters in the face of these competitive tools should be a top priority for Congress.
That’s why we recently sent letters to members of the North Carolina congressional delegation urging them to support the Ex-Im Bank’s reauthorization and were proud to join more than 200 organizations, including the National Association of Manufacturers (NAM), in calling on Congress to pass a robust and long-term reauthorization as soon as possible. You can read our letters to the North Carolina congressional delegation here, or the NAM letter here.