AEROSPACE: Support is needed

The EXIM Bank fills export financing gaps through its loan, guarantee and insurance programs when the private sector is unable or unwilling. It’s an independent self-supporting federal agency that costs the U.S. taxpayer $0! They provide Export Credit Insurance. If a buyer does not pay, the EXIM bank makes sure the U.S. company gets paid.

Since 2009, EXIM has contributed nearly $3.8 billion to taxpayers. How many government agencies make a profit? In 2015, their funding was interrupted when the EXIM Bank was misunderstood as “Crony Capitalism.” The funding was eventually renewed with a $10,000,000.00 “cap” to exclude the larger corporations. This forces large companies to seek the funding elsewhere, lose opportunity to competitors and jeopardize jobs here in the U.S. There are many EXIM Banks worldwide that lend us the money and reap OUR interest.

We want American jobs. It is not crony capitalism if it feathers your own nest. The Northwest claims 2000+ companies as aerospace manufacturers. These companies hire our neighbors and rely on the success of Boeing. Let’s help Boeing sell planes. Let your Congressman/Congresswoman know that we want the EXIM Bank to be open to large-scale financing.

DEAN CAMERON

Publisher/Northwest Aerospace News Magazine