WMUR: Shaheen, Ayotte Push for Reauthorization of Specialized Bank

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A deadline is looming that could spell an end for a specialized bank that some say creates thousands of jobs in New Hampshire.

U.S. Sens. Jeanne Shaheen and Kelly Ayotte are coming together across the aisle to call on Congress to reauthorize the U.S. Export-Import Bank. Funding for the Ex-Im Bank, as it's called, is set to expire at the end of the month.

The bank offers foreign companies a line of credit to buy U.S. products, including goods made in New Hampshire. If the funding dries up for the bank, the senators believe a lot of jobs could go away.

GE Aviation in Hooksett and Boyle Energy Services in Concord are two companies who said their customers benefit from the existence of the Ex-Im Bank.

"We've been working with the Ex-Im Bank for the better part of eight years, and it's allowed us to expand at a rate that we wouldn't have been able to do otherwise," said Michael Boyle, CEO of Boyle Energy Services.

The effort to fund the bank has divided members of Congress and candidates on the campaign trail. Republicans Scott Walker, Ted Cruz and Marco Rubio said they believe the Ex-Im Bank allows the government to pick winners and losers and promotes crony capitalism.

Democrat Hillary Clinton pushed back against those accusations in New Hampshire last month.

"It seems as though they would rather threaten the livelihoods of those 164,000 jobs than stand up to the tea party and talk radio," Clinton said. "It's wrong. It's embarrassing."

"It's a win-win for everybody," Shaheen said. "We can produce more, we can hire more workers and it doesn't cost taxpayers anything, so this is something that we need to reauthorize."

Ayotte is among the Republican ranks who agree, saying the Ex-Im Bank has benefited no fewer than 36 New Hampshire companies.

"What it is is just opportunities for financing, and it returns money to the treasury," Ayotte said. "So it's more American jobs, returns money to the treasury and more manufacturing here."

Republican Sen. Lindsey Graham is a lead sponsor of the bill to reauthorize the Ex-Im Bank saying it's crucial to allowing U.S. companies to compete globally.

The deadline for reauthorization is the end of the month.

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