Trump takes steps to reauthorize Ex-Im Bank
President Trump last week nominated former Congressman Spencer Bachus to be a member of Export-Import Bank Board, and also tapped former Congressman Scott Garrett to run the organization.
Association Industries of Missouri has consistently recommended the White House and Congress reauthorize the Ex-Im Bank since the last administration. During the Obama administration, the Bank was reauthorized, but a lack of quorum on the Ex-Im Board prevented approval of larger deals. This greatly impacted some great American companies that sell goods abroad in competition with other such “banks” in other countries. The Ex-Im bank offers small, medium and even large manufacturers the guarantee that they will get paid for their goods sold overseas.
“Associated Industries of Missouri is pleased President Trump made the Ex-Im Bank a priority by appointing a quorum for the Bank,” said Ray McCarty, president/CEO of Associated Industries of Missouri. “We look forward to confirmation of his appointment so the Ex-Im Bank may get back to the business of helping manufacturers in Missouri and across America compete in foreign countries.”