Association of Equipment Manufacturers (AEM) President Dennis Slater issued the following statement in support of the bipartisan passage of H.R. 4863, which reauthorizes the U.S. Export-Import Bank:
“Exports are imperative to equipment manufacturers and to a robust U.S. economy,” said Dennis Slater, President of AEM. “With about 30 percent of equipment made in the U.S. destined for export, it’s important to our industry to help facilitate trade and ensure a level playing field in the global marketplace. The Ex-Im Bank helps do that by securing credit and export assistance for equipment manufacturers so that they can export more of their products globally. We now urge the U.S. Senate keep the momentum going by swiftly voting in favor of the Ex-Im Bank’s reauthorization. By doing so, they will help keep our industry vibrant and the support our industry’s 1.3 million men and women.”
The U.S. House of Representatives voted 235-184 in favor of the bill. The Export-Import Bank is especially important to small and medium-sized businesses, which account for nearly 90 percent of the Bank’s transactions. The bill also renames the bank to the “Export Finance Agency.”
AEM is the North American-based international trade group representing off-road equipment manufacturers and suppliers, with more than 1,000 companies and more than 200 product lines in the agriculture and construction-related industry sectors worldwide. The equipment manufacturing industry supports 1.3 million jobs in the U.S. Equipment manufacturers also contribute $159 billion to the U.S. economy. AEM is celebrating its 125th anniversary in 2019.
Visit www.aem.org/advocacy for more information.