Sen. McCaskill: Ex-Im Bank Affects Mo. Jobs

By Matt Lupoli |

Published 08/26 2014 09:35PM

Updated 08/26 2014 10:43PM

SPRINGFIELD, Mo. -- During a visit to a Springfield steel manufacturer Tuesday, Sen. Claire McCaskill said the United States Export-Import Bank is a vital tool for companies that do business internationally -- though it could face a rocky road to renewal.

"There are hundreds and hundreds of Missouri businesses that would be impacted by this," McCaskill said. "This company imports steel from other Missouri companies, so there's a ripple effect."

Custom Metalcraft employs about 170 workers and ships stainless steel containers to buyers all over the world. Managing partner Nikkie Holden said about 10 percent of the company's products sell to foreign buyers.

"We've seen our international sales continue to grow," Holden said. "We utilize Ex-Im bank for almost one hundred percent of our (international) transactions. It is very important and essential to us that we support this."

McCaskill is traveling across the state this week to rally support from companies who use the bank and the public alike, because she said she fears some of her Republican colleagues won't vote to renew it.

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Without Congressional action, the agency, which finances and insures American companies' sales to foreign buyers, could expire by Sept. 30.

"This has never been a controversial vote over the many decades this has been in place," McCaskill said. "It doesn't cost taxpayers money and it isn't about insider deals for big guys ... and it means real jobs. Hundreds and millions of dollars worth of real jobs in this country."

About 95 other Missouri businesses use the Export-Import agency. McCaskill said her Republican colleague Sen. Roy Blunt agrees with her that the bank should be re-authorized.

"The bank creates a profit that contributes to bringing down our deficit," she said.

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