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Topic: Airbus

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September 22, 2014 at 6:08 AM

No deal in Congress on Ex-Im Bank points to problems in both Washingtons

Delaying a vote on the Ex-Im Bank will impact businesses small and large, creating uncertainty about the availabilty of credit for foreign purchasers of American-made goods. Airplanes, for instance. (Photo by Mike Siegel/ Seattle Times)

Delaying a vote on the Ex-Im Bank will impact businesses small and large, creating uncertainty about the availabilty of credit for foreign purchasers of American-made goods. Airplanes, for instance. (Photo by Mike Siegel/ Seattle Times)

Another nine months of limbo for the federal Export-Import Bank spells big trouble for Washington exporters, large and small. A decision by Republican House leaders last week not to debate the bank’s reauthorization and kick the matter down the road is every bit as much a failure as the squabbling last year that shut down the federal government. Alas, an argument that doesn’t happen never gets as much attention as an argument that does. So Washington state needs to be attentive and place the blame where it is due, for missed business opportunities, sales that go to companies in other countries, and the first step toward a unilateral disarmament that will wreak havoc on Washington’s largest business, Boeing. House GOP leaders last week decided not to permit a vote on bills that would have extended the nation’s export-credit agency for a longish term of five or seven years. Instead they slipped a more modest proviso into the usual “continuing resolution” that allows the federal government to continue functioning, keeping the bank alive until next June 30. Certainly it was better than allowing the 80-year-old institution to expire on Sept. 30, which is what would have happened otherwise. But it is an unwarranted genulflection by Republican leaders toward a faction within the party’s ranks that sees the bank as an affront to free-market principles.

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Comments | Topics: Airbus, Boeing, ex-im