With Trump in Town, GE Workers Voice Frustrations - 350 To Lose Jobs

WAUKESHA, WI — The same day President Donald Trump appeared at a fundraiser for Gov. Scott Walker in Waukesha, General Electric employees voiced their frustrations over losing 350 local jobs.

Company officials with GE stated that a decision by Congress to allow a key Export-Import bank's charter to lapse was a critical decision that forced the company's hand.

"We are the only major economy on the planet without a fully functioning export credit agency— this has had serious consequences for American businesses and workers," a company spokesman told Patch Tuesday.

According to a FOX 6 report Tuesday, GE is planning to close its manufacturing plant in Waukesha and move its 350 jobs to Canada.

According to the report, GE says the closing of the Export-Import Bank — a government agency used to finance U.S. exports — hurt the company's ability to sell their products abroad.

Congress let its charter expire in June of 2015. According to FOX 6, that's when Canada stepped in, offering financing at a time when the U.S. Export-Import bank was still closed.

By the time Congress reauthorized the Export-Import bank, GE had already made its decision.

A company spokesman contacted Waukesha Patch Tuesday, saying the company strenuously advocated for the continuation of the Export-Import bank, which would have kept the plant in Waukesha.

“For over two years, GE has publicly pressed Congress to support a fully functioning Export-Import Bank so U.S. companies can sell their products to overseas customers. We have made this case to anyone who would listen. Unfortunately, Congress has failed to take action, and we now rely on export financing from outside the U.S. We continue to urge Congress to level the playing field so American companies can compete and win around the world.In 2015, when we announced that the Waukesha facility was closing, the Export Import Bank’s charter had lapsed and there was no clear path forward for reauthorization of the Bank. If Ex-Im had been reauthorized during that time, the decision to close Waukesha would not have been made. The fact is, to this day, the Ex-Im Bank is still not able to approve deals above $10 million. This is significant because the vast majority of infrastructure deals-- supporting US exports and jobs-- are currently unqualified, and unable to receive export financing."

Image via Wikimedia Commons Bubba73 (talk), Jud McCranie