When the U.S. House passed the federal highway bill yesterday, included in the bill was re-authorization of the Export-Import Bank. Although the House agreed on reauthorizing the Ex-Im Bank in October, the legislation was attached to the highway bill, which took a month to get through.
This is, in part, the outcome of hard work and effort by Boeing and GE, which are big beneficiaries of the bank. This work and effort was expected of course. But with a return of the bank, an unintended consequence is that non-US airlines can tap bank funding for any Airbus’ built in Mobile. Funny how that works.
The threats of layoffs (Boeing) and moving jobs outside the US (GE) are now likely to be reconsidered. Neither firm has said anything yet. But it would bring smiles to many if Airbus were to issue a statement expressing its appreciation of the bank being re-authorized.