KCnext’s policy committee elected to support two pieces of legislation this month.
Perkins Act
Perkins is an existing avenue to help students prepare for secondary and postsecondary education by providing access to federal dollars, to offset the cost of career and technical education (CTE) programs.
KCnext signed a letter expressing support for the reauthorization of this Act, stating:
- “Reauthorizing the Perkins Act is critical for the continued economic prosperity of the United States and ensures the country remains a leader in global competitiveness.”
- “We urge [Congress] to focus on areas where improvements can be made to current law… enhancing aspects of the Perkins Act, which will help to better serve both workers and employees. A reauthorized version of Perkins should:
- Align CTE programs to the needs of the regional, state and local labor market
- Support effective and meaningful collaboration between secondary and postsecondary institutions and employers
- Increase student participation in experiential learning opportunities such as industry internships, apprenticeships and mentorships
- Promote the use of industry-recognized credentials.”
Export-Import Bank
The Export-Import Bank of the United States (Ex-Im Bank) has played a vital role in assisting American businesses in the global marketplace through offsetting some of the financing support that foreign competitors receive from their governments.
The bank is at risk of shutting down its its charter is not reauthorized before June 30, 2015.
KCnext sent a letter to Congress urging it to reauthorize the Ex-Im Bank on the basis that it enables technology companies to take advantage of market opportunities in high-risk markets abroad that private-sector institutes are unwilling to accept.
Ex-Im services that support global competitiveness include:
- Direct loan | fixed-rate loan to foreign buyers of U.S. exports
- Loan guarantee | guarantee to lender that, if buyer defaults, payment of outstanding principle and interest on the loan will be made
- Insurance | protects U.S. exporters against risk of loss from non-payment should a foreign buyer or other foreign debtor default
- Working capital | short-term, secured working capital loans and guarantees, usually to small businesses
- Special financing programs | focus on particular industry or financing technique
