With the recent expiry of the Export-Import bank in the U.S, General Electric has stated that is will now be sending a minimum of 500 jobs overseas as a result. GE's head of global operations stated that whether or not the bank becomes reauthorized, they have to move forward as a company, even if it means potentially sending thousands of jobs overseas.
Congress let the Export-Import Bank expire this summer which served as a way for companies to finance and insure foreign purchases of American made goods. General Electric, Boeing, and Caterpillar all served as major beneficiaries to this. GE has been lobbying and trying to get congress to re-authorize the bank because it creates American jobs. There is significant opposition to the bank because it to some degree inhibits the free market economy, as well as providing subsidies to major corporations. If congress is not able to reauthorize the bank, it will result in a loss of thousands of jobs at GE and within many of their suppliers.
http://www.cnbc.com/2015/09/15/ex-im-bank-expiry-prompts-ge-to-ship-500-jobs-overseas.html
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