Support reauthorization of U.S. Export-Import Bank

The U.S. Export-Import Bank provides loans, loan guarantees and export credit insurance to help cover financing gaps for American exporters. It helps level the playing field for U.S. companies seeking new sales in fiercely competitive global markets. Since 2007, the Export-Import Bank activities have supported $4 billion in export activity in Wisconsin, benefitting 180 different companies, the vast majority of which were small businesses. Last year alone, those activities supported over $600 million in economic activity in our state. In addition, other smaller companies who were not direct recipients of Export Import Bank help but who supply goods and services to larger exporters also benefited from bank's activities. >>View more info about the Bank's activities in Wisconsin.

To continue operating, the U.S. Export Import Bank's charter must be reauthorized by Congress by September 30, 2014. If not reauthorized before that, American companies and Wisconsin employers would be put at a disadvantage in global markets, resulting in lost sales and jobs. U.S. businesses of all sizes would be deprived of a vital financing source at a time when boosting exports is increasingly vital to growing our nation's economy and jobs.
 
>>View the MMAC/WTA letter sent to the Wisconsin Congressional Delegation
 
We ask you to consider contacting your own member of congress personally with this request through our website, MMACtion.org, that will put you directly in contact with your representative. >>Find your legislator


The Coalition for Employment Through Exports, Inc. is soliciting testimonials from small to medium sized users of Ex-Im Bank's programs to demonstrate it's importance to the members of Congress.  >>Fill out your testimonial today! and also register your support for reauthorization.  

Directions for submitting to CEE:

  • Access the website at http://eepurl.com/W380P
  • Complete the “questionnaire” by clicking on the “find here” link in paragraph 3.
  • Save a copy of the PDF for WI company records.
  • Then “press the Submit form” button found within the PDF document.

SAMPLE LETTER for your legislator.
(Personalize this using your company letterhead)

As an employer in the Metropolitan Milwaukee area, I am writing to urge you to support the reauthorization of the U.S. Export-Import Bank before its charter expires on September 30.

The Export-Import Bank provides loans, loan guarantees and export credit insurance to help cover financing gaps for American exporters. It helps level the playing field for U.S. companies
seeking new sales in fiercely competitive global markets.

Since 2007, Export-Import Bank assistance has supported $4 billion in export activity in Wisconsin, benefitting 180 different companies, the vast majority of which were small businesses.  Last year alone, those activities supported over $600 million in economic activity in our state.  In addition, other smaller companies who were not direct recipients of Export Import Bank help but who supply goods and services to larger exporters also benefited from bank’s activities.

The Export-Import Bank operates at no cost to the U.S. taxpayer. It charges fees for its services, follows rigorous accounting and risk-management standards and its loans are often backed by the collateral of the goods being exported. As a result, their default rate has consistently been less than two percent over the past eight decades, a default rate lower than most commercial banks.

Other nations around the globe understand the importance of supporting their exporters and are operating aggressively in this area of financing and loan guarantee assistance.   If the U.S. fails to reauthorize the Export-Import Bank, it will not end the practice of government assistance for exports within the global economy.  It would merely unilaterally disarm our nation’s efforts in this area at a time when other governments’ are pursuing ever more aggressive export credit programs. Export credit agencies in China, France, Germany, Brazil, and Korea already provide significantly more support for their exporters than the U.S. Export-Import Bank has provided to U.S. exporters
 
If the Export-Import bank is not reauthorized before September 30, American companies and Wisconsin employers would be put at a unique disadvantage in global markets, resulting in lost sales and lost jobs. U.S. businesses of all sizes would be deprived of a vital financing source at a time when boosting exports is increasingly vital to growing our nation’s economy and jobs.

Thank you for your positive consideration of this issue that is so important to our region’s global competitiveness.


 

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