Aerospace giant Boeing lobbied hard for the nuclear deal that lifted sanctions on Iran, but the Iranian regime announced on Thursday that it would spend billions to buy aircraft from French competitor Airbus.
Taxpayers could end up footing the bill for Iran’s purchase of American-manufactured planes thanks to legislation passed on Thursday that critics say facilitates U.S. support for an Iranian commercial airline sector frequently used in service of its international terrorist proxies.
The top Democrats running for Senate in Pennsylvania have come out in support of reauthorizing the Export-Import Bank, but have been silent on whether they back the bank’s restrictions on financing coal-fired power plants.
General Electric announced they would move 1,000 jobs to the United Kingdom due to a lack of Export-Import bank funds, but a GE spokesman later said the deal would have gone through regardless of Ex-Im’s operation, Reuters reported.
General Electric had a plan since last year to move jobs to France, despite their claim that they would move jobs outside of the United States and into France due to lack of Export –Import Bank funds, the Washington Examiner reported.
With Congress adjourning on Wednesday, the U.S. Export-Import Bank will remain shuttered until at least September, ending for the time being an intense fight over the controversial export finance agency.
On Wednesday afternoon, President Obama hosted a meeting of 10 small business owners at the White House and used those in attendance as reason why the Export-Import bank’s charter should be renewed, claiming without the bank’s assistance their businesses would suffer.