BCA's Washington Briefing
follow us on facebook follow us on twitter follow us on youtube June 12, 2015
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DEADLINE NEARS FOR EX-IM BANK

 

A test vote in the U.S. Senate shows a majority backs extending the charter of the Export-Import Bank of the United States, Roll Call reported. Sixty-five senators, including 22 Republicans, backed an amendment to extend the bank's charter.

 

Sen. Heidi Heitkamp, D-N.D., said backers were promised a real vote to extend the bank before its charter expires June 30 as part of the deal to advance the fast-track trade bill.

 

Because the Ex-Im Bank is crucial to Alabama and the nation, the Business Council of Alabama, the National Association of Manufacturers, and the U.S. Chamber of Commerce, issued a call to contact federal legislators urging them to renew the bank's charter.

 

The bank provides financing to buyers - not sellers - of Alabama and American products overseas when regular financing is not available. The bank makes a profit for the U.S. Treasury.

 

"The Ex-Im Bank plays a significant role in Alabama's job creation efforts," BCA President and CEO William J. Canary wrote in an op-ed published June 1. "More than 80 Alabama-based exporters in various industries including forest products, chemicals, transportation and fabricated metal products have used the agency when private-sector banks could not help."

 

The Wall Street Journal this week reported that major U.S. manufacturers may move overseas and that industrial contracts in developing countries will be in jeopardy if the bank is killed.

 

"With Ex-Im gone, I'm out of (Mexico, Brazil and the Middle East)," said Danny Roderick, chief executive of Westinghouse. "You need a loan guarantee going in, to even submit a proposal."

 

Senate Majority Leader Mitch McConnell, R-Ky., has agreed to bring the issue up for a Senate vote later this summer.

 

The U.S. Chamber and the NAM helped coordinate a letter signed by 1,053 businesses and business associations that was sent to members of Congress last week.
 

Now more than ever members of Congress need to hear from BCA members. The bank supports hundreds of Alabama jobs and enables millions of dollars in exports through financing extended to foreign buyers.

 

Click here to join the fight.

 

Here's a fact sheet about the bank.

 

The BCA is the exclusive representative of the U.S. Chamber and the NAM in Alabama.
BCA URGES TRADE ACTION

 

On the eve of the House beginning to vote Friday on trade legislation, National Association of Manufacturers President and CEO Jay Timmons and David Farr, NAM's Vice Chair of International Economic Affairs Policy and Emerson Chairman and CEO, released a joint statement urging the House to pass legislation authorizing Trade Promotion Authority:


"The House of Representatives now faces a simple decision: vote in support of TPA and expand opportunities for manufacturers to sell our products overseas, increase global competitiveness and fuel our ability to grow and create jobs, or vote to keep manufacturers on the sidelines and at a global disadvantage," the statement said. "A vote for TPA is a vote to support the 12 million men and women working in manufacturing in the United States."

 

The Business Council of Alabama also has written members of Alabama's Congressional delegation urging support of the Bipartisan Congressional Trade Priorities and Accountability Act of 2015.

 

Trade Promotion Authority is a vital component for American business because economic growth and job creation at home depend on our ability sell American goods and services to 95 percent of the world's customers who live outside the United States.

 

In Alabama, trade supports more than 500,000 jobs. Exports of goods and services last year reached $23 billion. And trade is especially important for Alabama's small businesses, more than 3,200 of which are exporters.

 

By creating a level playing field, trade agreements help U.S. companies and the workers they employ compete in overseas markets and support 5 million American jobs. To expand these benefits, the U.S. is negotiating the Trans-Pacific Partnership agreement with 11 other Asia-Pacific nations, including some of the world's fastest growing economies.

 

The U.S. is also negotiating the Transatlantic Trade and Investment Partnership with the European Union, the largest market for U.S. business. But to make these growth-driving trade agreements a reality, Congress must first approve Trade Promotion Authority (TPA).


The logic of trade is simple. Without TPA, the U.S. cannot negotiate new trade agreements to open foreign markets, spur economic growth, and create American jobs. Without TPA, our standard of living and our standing in the world will suffer.

 

IN CASE YOU MISSED IT 

House Fights EPA Anti-Private Property Water Ruling

USA Today (Calfas 6/10) "The House panel approved a proposed measure Wednesday that will make cuts and enact changes to the Environmental Protection Agency. The bill provides $7.4 billion for the EPA - a 9% reduction from fiscal year 2015. According to the subcommittee's release, these funding cuts 'will help the agency streamline operations' by centralizing the focus to broader goals.

 

"The bill also blocks the issuing of new regulations by the EPA, including changing the definition of 'navigable waters' under the Clean Water Act and enacting new regulations on power plants for greenhouse gases.

 

"Rep. Ken Calvert (R-Calif.), the chairman of the subcommittee, told the Associated Press the bill exemplifies the subcommittee's ability to make tough decisions with a tight budget. 'In addition, the bill takes meaningful steps to shield our economy and defend American jobs from the executive overreach of EPA regulators', he said."
PROUD PARTNERS OF

US Chamber of Commerce   National Association of Manufacturers
CONTACT YOUR REPRESENTATIVES
Sixth District
 U. S. Rep. Gary Palmer
202.225.4921

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