In a world without the U.S. Export-Import Bank, the private sector reigns.
In the run-up to the June 30 deadline, Congress is debating whether to reauthorize the Ex-Im Bank, a trade promotion agency extending financial benefits to U.S. businesses that would not otherwise qualify to export or invest overseas.
Members of Congress who hope to reauthorize the bank point to the $7 billion Ex-Im has returned to the U.S. treasury over the past two decades, according to the U.S. Government Accountability Office, while opponents insist Ex-Im’s work could be done just as easily by the handful of other existing trade agencies, or by the increasingly robust U.S. private sector.