US OEMs Back ExIm Bank Revival

Boeing and GE Aviation have both backed US Congress’ decision to reintroduce the US Export-Import (ExIm) bank nearly six months after political wrangling halted the programme.

Boeing and GE Aviation have both backed US Congress’ decision to reintroduce the US Export-Import (ExIm) bank nearly six months after political wrangling halted the programme.

The US House of Representatives voted 359 to 65 on Friday (December 4) to send the five-year, $305bn legislation to the Senate for approval.

The expiration of the bank on June 30 led to speculation that Boeing and GE could move parts of its operation out of the US unless the bank regained its lending authority.

Dennis Muilenberg, CEO of Chicago-headquartered Boeing, said: “By reopening the Export-Import Bank, Congress has taken strong action enabling American exporters and the skilled workers they employ to compete successfully in tough global markets.”

Meanwhile, GE CEO Jeff Immelt described the decision as "excellent news for workers and businesses large and small who can now confidently compete and win deals globally.”

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