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House bill revives Export-Import Bank: Waukesha mayor says that won’t impact GE job cuts

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GE Power & Water Waukesha

WASHINGTON, D.C. — Establishment Republicans have teamed up with House Democrats to revive the Export-Import Bank, dealing a defeat to tea party lawmakers and Speaker-to-be Paul Ryan.

The House overwhelmingly approved the measure 313-118 as more than 120 Republicans joined virtually every Democrat to support the bank, whose charter expired June 30.

Since then, the bank has been unable to approve new applications to fulfill its mission of helping overseas buyers get financing to purchase U.S. exports like airplanes and heavy equipment. Supporters say the bank helps sustain tens of thousands of manufacturing jobs.

The measure came to the floor under a rarely-used procedure in which supporters mounted a petition drive to force a floor vote over the opposition several top House GOP leaders.

The bill’s fate remains uncertain in the Senate.

GE announced in late September that it plans to build a state-of-the-art “Brilliant Factory” in Canada with manufacturing capacity for multiple business lines including its Power & Water, Oil & Gas and Transportation groups.

That move would bring an end to the manufacturing of orange gas engines in Waukesha — and 350 workers at the GE Power & Water factory would lose their jobs.

That had some, including GE officials, blaming Congress for failing to reauthorize the Export-Import Bank.

FOX6 News spoke with Waukesha Mayor Shawn Reilly on Tuesday, October 27th regarding the reauthorization of the Export-Import Bank and its impact on the GE job cuts, and Mayor Reilly said the revival of the Ex-Im Bank will not save these jobs. Reilly said GE officials have indicated these jobs will be moved to Canada regardless of what happens in Washington.

2 comments

  • Opinion8d

    That’s because the plant was closing regardless. GE was just using it as an excuse to get attention for other uses of the Export/Import Bank and take the blame away from them for closing the plant.

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