The Wall Street Journal (7/6, A1, Crittenden, Subscription Publication) reports that members of Congress recently received personalized index cards from supporters of the Ex-Im Bank listing the specific companies in their districts that benefit from the Bank’s activity. The cards came from groups such as the National Association of Manufacturers in an effort to combat a serious threat to the agency’s existence from the conservative leadership in the House of Representatives and from numerous conservative groups. NAM Senior Vice President of External Relations Ned Monroe announced that the association has a customized plan for each congressional district to promote the agency and is planning to fly in business owners to Capitol Hill. Other efforts from supporters include scheduling factory tours and one-on-one meetings between members of Congress and business owners in their districts. These business owners are generally ones that benefit from the Bank’s existence.
Crain’s Cleveland Business (7/6, McCafferty) reports that the NAM is leading a campaign for the Bank’s reauthorization because it keeps the United States on a level playing field with other countries. NAM Vice President of International Economic Affairs Linda Dempsey emphasized that anyone is eligible to use the Bank’s services and that funds come from users of the Bank. “The critics miss some of the key points,” she said.
The Columbus (OH) Dispatch (7/6, Williams) reports that Ohio has benefited from the Export-Import Bank, because the Bank has helped 30 central Ohio companies to export $145 million in goods over the past seven years, according to data from the region’s economic development agency. Several CEOs interviewed in the article voiced their support for the Ex-Im Bank’s reauthorization, noting that it allows companies to compete on a level playing field with international businesses, and that funding from the Bank supports jobs.
The Dallas Morning News (7/6, Lindenberger) reports the push to close the Ex-Im Bank is putting Rep. Jeb Hensarling at odds with some of the Republican Party’s “most stalwart supporters” and with fellow Republicans. The internal conflict over the Bank’s renewal were on display this year during an “often contentious” committee hearing on June 25 that “highlighted tensions within the” GOP. Texas Governor Rick Perry sent a letter to Hensarling on the day of the hearing urging the committee to renew the Bank’s charter, which helps out many Texas businesses.
Small Businesses Organize To Support Ex-Im. The Los Angeles Times (7/4, Puzzanghera) reports that small-business owners are rallying to support the reauthorization of the Ex-Im Bank. Small businesses that benefit from the agency’s activities have been contacting members of Congress to extol the virtues of the Bank for their business. Supporters of the Bank have “launched a full-scale lobbying blitz” and are organizing meetings with business leaders so that Congress can hear how the loss of the Bank would have a “devastating” impact on jobs and the economy.
Editorial Urges Renewal Of Ex-Im Charter. A San Antonio Express-News (7/4) editorial writes that since Texas is the “export king” among US states, “its threatened demise [is] puzzling” since it is being lead by Texas Republican Rep. Jeb Hensarling. The Express-News writes that in the last seven years, the Bank has helped 1,338 Texas businesses to sell $21 billion in goods abroad. In addition, Governor Rick Perry has been actively supporting the Bank’s reauthorization. The editorial ends with a call for the congressional delegation from Texas to “stand as one. Renew the Ex-Im Bank’s charter.”
A Lawrence Summers column in the Financial Times (7/7, Subscription Publication) equates blocking Ex-Im reauthorization with “unilateral disarmament” of US business interests against foreign competition.
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