Ex-Im Bank Likely Back in Business

The Export-Import Bank won a strong shot at reauthorization last week when it became part of the transportation bill passed by the House.

A story in the October 21 issue of Shortliner reported that AGCO Chairman and CEO Martin Richenhagen took time during a recent visit to Washington to lobby for the bank's reauthorization. He said then that if lawmakers did not reauthorize the Ex-Im Bank, it would cost American jobs and send the message that the U.S. doesn't want to do business with the world.

The Ex-Im Bank helps overseas customers of U.S. companies finance purchases with loans and credit guarantees. Its charter expired at the end of June. Supporters of the bank say it keeps U.S. firms on a level playing field against foreign competitors that enjoy similar support from their governments; opponents say it puts taxpayers at risk and allows the government to pick winners and losers.

The House and the Senate have passed six-year transportation bills. Lawmakers meet Nov. 20 to blend the two bills. S