The U.S. Senate passed a bill yesterday to extend the charter of the U.S. Ex-Im Bank for another three years and raise its debt ceiling from $100 billion to $140 billion, at least temporarily issuing a reprieve to Boeing and other U.S. aerospace companies that depend on government-backed loan guarantees to sell their products to foreign customers unable to access pr
Banking in the United States
Just as business aviation was girding for a fight over a Troubled Assets Relief Program (TARP) amendment that would have forced companies receiving TARP funds to dispose of their business aircraft, the House of Representatives moved to strike the language from the legislation.
NBAA is fighting to eliminate from a bill to reform the Troubled Assets Relief Program (TARP) wording that would “require divestment of private aircraft or leases.” TARP was passed by Congress in October to acquire banks’ troubled assets in an effort to unfreeze the credit market. The proposal regarding business airplanes was introduced on Friday by Rep. Barney Frank (D-Mass.), the chairman of the House Financial Services Committee.