Nuclear Energy Institute VP urges reauthorization of EXIM Bank

Nuclear Energy Institute Vice President for Suppler and International Programs Daniel Lipman said Monday he is hoping Congress will reauthorize the charter of the Export-Import (EXIM) Bank of the United States, which expired Tuesday.

Lipman said companies lacking financing from an institution such as the EXIM Bank do not do well on international markets and that the expiration of the bank will have negative consequences on the U.S. nuclear industry and those working within it.
   
"Every job matters to the person who holds it," Lipman said. "For nuclear power exports, up to $740 billion in potential sales is projected to be on the table over the next decade. Imagine the difference these opportunities can make for the people who get jobs serving this market and for our economy as a whole. Without EXIM, those opportunities vanish, and tens of thousands of Americans already employed on the strength of EXIM financing are at jeopardy of losing their jobs."

Conservative members of Congress have opposed the EXIM Bank reauthorization, including presidential candidates and House Financial Services Committee Chairman Jeb Hensarling (R-TX).

"The nuclear energy industry urges leaders in Congress to schedule an up-or-down vote on the bank's charter as soon as possible,"  Lipman said.

According to USA Today, EXIM Bank proponents have stated their intentions to bring the bank's reauthorization to the floor in July, and in the Senate, a symbolic vote was held with 65 members supporting reauthorization.

"Opponents of the Export-Import Bank have achieved a Pyrrhic victory that is going to cost the United States jobs and influence in the global marketplace," Lipman said. "One hopes their victory is short-lived, and that the clear majorities in the U.S. Senate and House of Representatives who support the EXIM Bank will soon have an opportunity to vote to reauthorize its charter."