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With Speaker Boehner having announced his retirement from Congress at the end of October, he has an opportunity to clean up the Ex-Im Bank reauthorization debacle and save thousands of American jobs, including possibly many in his own Ohio district.
Thousands of small and medium sized exporters are struggling mightily to stay competitive with the June 30th cessation of critical Ex-Im guarantees that enable financial institutions around the country to provide competitive financing.
Larger exporters are stunned by the reality that their government would fail to ensure the survival of a critical source of competitive financing. In sorting through alternative courses of action, they will likely find the alternatives to come down to either the relocation of U.S. jobs overseas or the replacement of job growth in the U.S. with job growth in countries where their governments will more willingly provide export financing support. Speaker Boehner has the best chance to prevent this catastrophe from taking place.
Speaker Boehner understands the implications of a long-term shutdown of the Bank.
The question is whether he can fashion a way forward in the next four weeks before his retirement to get a Bank reauthorization enacted. There is a clear majority in the House in favor of the reauthorization; but there must be an opportunity given them by the Speaker to have that vote.
We must remain confident he will come through for the sake of working Americans and critical American jobs.