The issue has divided many in the state legislature.
On Thursday, Nov. 5, the House approved a multiyear transportation funding bill that included an amendment renewing of the Export-Import Bank charter, an issue that Congress has been arguing about all year.
The issue had also divided Georgia’s Senate delegation, according to WABE News: Sen. David Perdue has said he’s concerned about the structure of the bank and wants to see more debate, while Sen. Johnny Isakson has said the Export-Import bank is important for jobs in Georgia and for U.S. businesses to compete with global companies. Georgia Rep. Buddy Carter also came out in support of the Export-Import Bank with a letter to the editor at Valdosta Today, noting that with two of the fastest growing ports in the nation located in Georgia, renewal of the Export-Import Bank’s charter was important for protecting Georgia jobs and American competitiveness.
The Export-Import Bank is the official export credit agency of the U.S. government, which helps finance the sales of U.S. exports to international customers. Its charter expired at the end of June.
The Senate has also passed its own transportation funding bill, so next the House and Senate will negotiate to reconcile the two versions.
For small businesses in Georgia and across the United States who count themselves among Export-Import Bank users, a continued lapse of the bank’s charter would have a direct impact on the financing of their sales to foreign customers. Other small businesses that may provide contract work for or engage in business with Export-Import Bank users would also be negatively impacted by uncertainty surrounding the bank’s future.
