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GE To Cut 350 Jobs In Waukesha, Citing Closure Of Export-Import Bank

GE Says It Will Resume Gas Engine Production In Canada, Which Has An Export Credit Agency

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General Electric Co. is phasing out gas engine production at its plant in Waukesha, citing the closure of the Export-Import Bank as a reason for the move.

House Republicans have been blocking reauthorization of the bank, which provides credit to overseas customers of U.S. manufacturers. The charter for the institution officially lapsed in June.

GE has said that the nonrenewal of the charter was a tipping point in its decision to phase out engine production in Waukesha, a move that will cost the area 350 jobs. The company will resume production in Canada, a country that has an active export credit agency.

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Waukesha Mayor Shawn Reilly said he’s now asking federal officials to reauthorize the Export-Import Bank, in hopes of changing GE’s mind. He said he wishes he’d spoken up earlier.

“I’m very busy running a city of 71,000,” said Reilly. “In hindsight, if I would have known what I found out this morning, I probably would have been shouting very loudly that the Export-Import bank should be reauthorized.”

Democratic Sen. Tammy Baldwin also called on the House to act, but Wisconsin Republican Rep. Paul Ryan contends there are better ways Congress can promote economic growth. Rather than continue with what he calls “corporate welfare,” Ryan said the U.S. should be focused on fixing the tax code and reducing burdensome regulations.

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