ARLINGTON, Va. (AIA PR) — Aerospace Industries Association sent a letter today urging Congress to pass a completed FY2017 appropriation package rather than a full-year continuing resolution. We also ask that the ExIm Bank be enabled to process transactions more than $10 million. It was signed by more than 70 CEOs and senior industry representatives from AIA member companies.
The letter argues that the aerospace and defense industry is “arguably the most successful sector in our country,” contributing significantly to our nation’s economic growth, stability and national security despite “great uncertainty and instability in both the marketplace and with regard to annual government funding.” Our innovative industry supports our military, the dynamic aerospace sector and space exploration, and few things would offer a greater sense of stability going forward than completing the final FY2017 appropriations bills and restoring the ExIm Bank to full functionality.
Dear Speaker Ryan, Leader McConnell, Leader Pelosi, and Leader Reid:
With the 114th Congress coming to a close, the Aerospace Industries Association (AIA) and the leaders of our member companies would like to express our strong support for efforts to pass appropriations legislation providing full year FY 17 funding for the federal government.
The aerospace and defense industry, including over 320 AIA members and our supply chain, provides 1.7 million american jobs and 13% of the nations manufacturing employment. Aerospace and defense is the manufacturing sector’s leading net exporter, generating a record trade surplus of $81 bilion in 2015. It is arguably the most successful manufacturing sector in our country and contributes signifi cantly to our nation’s economic growth, stability, and national security.
This record of success developed during a time of great uncertainty and instability in both the marketplace and with regard to annual government funding. The work we do supports one of the most innovative aspects of our economy, including maintaining our military prowess, the development of a dynamic aerospace sector and furthering space exploration. Few things could provide a greater sense of stability for our industry going forward than completing fi nal FY 17 appropriations bills.
AIA and its member companies are greatful for your leadership which enabled completion of a multiyear reauthorization of the ExIm Bank last fall. As part of completing any FY 17 appropriations legislation, we ask you to restore the full functionality of the Export Import Bank (ExIm) by allowing the Bank to attain a quorum on its board. We strongly urge you to pass the ExIm Bank quorum provisions found in both the House and Senate versions of the FY 17 State and Foreign Operations appropriations measures.
This language would restore the Bank’s ability to authorize proposed transactions over $10 million and, as a result, quickly clear a backlog of more that 30 export sales with a total value of more than $20 billion. Failure to act on a quorum for ExIm delays opportunities for hundreds of small and medium sized businesses in the aerospace and defense supply chain as well as the millions of people they employ.
In conclusion we ask that you support U.S. economic stability and national security by completing FY 17 appropriations bills restoring the quorum to the ExIm Bank Board.
David F. Melcher
Lieutenant General, USA (Ret.)
President & CEO
Aerospace Industries Association
Chairman, President, & CEO
Lockheed Martin Corporation
Dennis A. Muilenburg
Vice Chairman, AIA
Chairman, President & CEO
The Boeing Company
+70 other business leaders