Washington, DC—The General Aviation Manufacturers Association (GAMA) today praised U.S. Congressional action to renew and reform the U.S. Export-Import Bank, as part of the surface transportation agreement. The conference report, which provides operating authority for the Bank until September 30, 2019, now heads to President Obama for his signature.

“The lapse in the Ex-Im Bank’s authority should never have occurred, and the Bank’s closure has taken a serious toll on both small and large general aviation manufacturers who have seen deals disappear or be delayed during these last five months,” GAMA President and CEO Pete Bunce said. “While renewal of the Bank took much longer than it should have, we appreciate the efforts of those who have worked so hard in securing the Bank’s reform and reauthorization. The overwhelming bipartisan majorities in both the U.S. House of Representatives and the U.S. Senate who voted to renew the Bank show their recognition that reestablishing a level playing field in credit agency financing is critical to ensuring fair competition between manufacturers in the international marketplace.”