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Latest news in the Aerospace Industry:

Boehner backs off support for Export-Import bank

WASHINGTON —

Faced with conservative opposition, House Speaker John Boehner is declining to take a position on renewing the Export-Import Bank even though he’s supported it in the past. His new stance deals a blow to a top priority of the business community.

The Ohio Republican told reporters Tuesday that he has a different job now and needs to work with GOP lawmakers to make sure they’re comfortable with what he called a “rather controversial subject.”

“Some people believe that we shouldn’t have it at all, others believe that we should reauthorize it with significant reforms,” Boehner said. “We’re going to work our way through it.”

The government agency provides loans, loan guarantees and credit insurance to help foreign buyers purchase American-made products. Its charter expires in September, and without legislation, it would not be able to back new loans.

Business groups are pushing hard for its renewal but conservative groups are opposed, saying it amounts to corporate welfare and that the private sector can fill its place.

Boehner was speaker in 2012 when the bank was last reauthorized, and he supported it then, as did nearly half of the Republicans currently in the House, according to the Chamber of Commerce.

Since then the institution has emerged as a flashpoint in the struggles between establishment Republicans and the tea party wing. The newly chosen House majority leader, Kevin McCarthy, reversed his stance and came out against reauthorization in his first interview as leader over the weekend.

Senate Minority Leader Mitch McConnell, R-Ky., said Tuesday that the Senate should take the issue up, though he said he’s undecided on how he would vote.

Complicating matters for supporters, the Wall Street Journal reported Tuesday that the bank has suspended or removed several officials in recent months in an investigation related to allegations of kickbacks and contract improprieties.

 

Call your Congressperson – Congress must Re-Authorize the Export-Imort Bank!

The Export-Import Bank (Ex-Im Bank) of the United States is our country’s official export credit agency.  It assists Washington State companies, large and small, to export goods and services to international markets.  Congress must act by September 30th to re-authorize the the Ex-Im Bank.  Without reauthorization, the Ex-Im Bank will expire, jeopardizing Washington aerospace companies and jobs.  In FY 2012, Ex-Im financing supported nearly $24 billion in Washington Exports.  

Please contact your Congressperson and tell them they must act to reauthorize the Ex-Im Bank.

FACTS ABOUT THE EX-IM BANK:

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U.S. Secretary of Commerce Penny Pritzker Announces Designees of the Investing in Manufacturing Communities Partnership (IMCP)

U.S. Department of Commerce Secretary Penny Pritzker will announce at 2:30 pm (ET) today that the Puget Sound Regional Council Manufacturing Community is one of the first 12 Manufacturing Communities designees as part of the Investing in Manufacturing Communities Partnership (IMCP). The designees were selected by an interagency team for the strength of their local economic development strategies and the depth of the public-private partnerships in their communities to carry out their local plans.

Click here for the press release.