The Export-Import Bank of the United States (Ex-Im) opens up international markets to U.S. businesses by financing and insuring the sale of U.S. exports when private sector financing is prohibitively expensive or simply not available. It supports hundreds of thousands of jobs at no cost to the taxpayer, and levels the playing field so that American businesses can compete successfully in global markets. Nearly 90 percent of Ex-Im’s transactions directly support U.S. small businesses.
After a five month shut-down of the Ex-Im Bank that resulted from Financial Services Committee Chairman Jeb Hensarling’s refusal to allow reauthorization legislation to move forward, Democrats joined with Republicans in using a rare discharge petition to force a vote to reauthorize the Bank. On December 4, 2015, President Obama signed the FAST Act, containing the text of the bipartisan “Export-Import Bank Reform and Reauthorization Act of 2015,” bipartisan legislation which reauthorizes the Bank thorough September 30th, 2019 and includes a range of reforms to strengthen the Bank’s operations.
A comprehensive set of Committee resources are below.
Legislation to Renew the Ex-Im Bank's Charter
- Legislation to renew and reform Ex-Im Bank, released by Financial Services Committee Ranking Member Member Maxine Waters (D-CA), Subcommittee on Monetary Policy and Trade Ranking Member Gwen Moore (D-WI), Congressman Denny Heck (D-WA), and Democratic Whip Steny Hoyer (D-MD).
Outpouring of Support for Reauthorization of the Ex-Im Bank
A wide array of small businesses, prominent Republicans, labor groups, national organizations, and manufacturing and business advocates have spoken out in strong support of renewing Export-Import Bank’s charter and highlight the effect that not reauthorizing the Bank is having on their businesses.
2015 Letters of Support
Effects of Uncertainty of the Reauthorization
2014 Letters of Support
Small Businesses Across the Country the Country
Labor Organizations
Manufacturing and Business Groups and Business Groups
National Organizations
Elected Officials
Ex-Im Press Releases
Panel Discussion on Reauthorization of Ex-Im Bank
- 04/08/2014 – Click here to watch the panel discussion sponsored by Ranking Member Waters.
Hearings on Ex-Im Bank
In Case You Missed It: Ex-Im Bank Articles
- Exporters Fear Credit Crunch, by Michael R. Crittenden and Adam Janofsky -… A decision by Congress to extend the Export-Import Bank only temporarily is raising concern among business owners who say they rely on the credit agency to lower the risks of exporting. .…Read full story at WSJ.com
- Senior House Financial Services Members Propose Ex-Im Bill, by Kristina Peterson- …Rep. Maxine Waters of California, the top Democrat on the House Financial Services Committee, and Rep. Gary Miller of California, the panel’s vice chairman, will propose Tuesday extending the bank’s charter for five years, while bolstering its risk and fraud protections, according to a copy of the bill reviewed by The Wall Street Journal. .… Read full story at WSJ.com
- Governors Call On Congress To Reauthorize Export-Import Bank, by Reid Wilson … The Export-Import Bank is the subject of the latest battle between business and conservative factions within the House Republican Conference, two sides that take dramatically different views on the bank’s value. But at least 15 Republican governors — including at least one considering a run for president — are siding with business interests in urging Congress to reauthorize the bank .… Read full story at WashingtonPost.com
- How Small Businesses Really Use The Export-Import Bank, Rob Mandelbaum ... And the case for the Ex-Im Bank, as it’s known, is somewhat murky. Participation by small business roughly mirrors the sector’s role in the broader economy: In 2013, 2,160 of the 2,775 exporting companies that used the bank, or almost 80 percent, were small businesses. But about the same proportion of the financing dollars authorized by the bank went to big companies ... Read full story at NYTimes.com
- Rick Perry To Congress: Don’t Kill The Export-Import Bank; Says It Adds Jobs, By Michael Lindenberger… Perry writes that any re-authorization bill should make the bank more transparent, but he said its continued operation is important to Texas’ economy. He also took aim at a major argument in critics’ critique of the bank, that it is costly to tax payers. Perry asserted it operated at no cost to taxpayers… Read full story at DallasNews.com
- The Ex-Im Bank Battle Is Personal For These Small Business Owners, By Rebecca Robbins ... Since 2007, the bank has authorized $45 million in financing for deals involving businesses in Hensarling's district, including Ojeda's company ... Read full story at WashingtonPost.com
- Waters Blasts GOP Opposition To Bank, by Kevin Cirilli and Vicki Needham…Rep. Maxine Waters (D-Calif.) used a Wednesday hearing to blast GOP leaders for opposing reauthorization of the Export-Import (Ex-Im) Bank … Read full story at TheHill.com
- House Democrats push for Ex-Im Bank, By Lauren French … If Congress fails to extend the charter, it will be the first time in 80 years that the bank, which provides loans and loan guarantees to giant corporations and small businesses, would cease to exist. Democrats say that would put American businesses at a competitive risk … Read full story at Politico.com
- Waters Blasts McCarthy Over Change In Ex-Im Stance, By Vicki Needham … “His change in position is significant, given that he supported the renewal of Ex-Im’s charter in 2012, and as Whip, encouraged his colleagues to do the same.” … Read full story at TheHill.com
- The Latest Tea Party Piñata, By Joe Nocera ... In other words, it would be hard to find a more useful government agency than the Export-Import Bank. For decades, its reauthorization was often passed in Congress without even a roll-call vote. Besides, lots of countries have agencies that do what the Ex-Im Bank does, and many countries rely on them far more heavily than we do ... Read full story at NYTimes.com
Additional Resources
113th Legislation on Ex-Im
- Bipartisan legislation to renew and reform Ex-Im Bank, released by Financial Services Committee Vice Chairman Gary Miller (R-CA) and Ranking Member Maxine Waters (D-CA)
- Protecting American Jobs and Exports Act (H.R.4950) introduced by Reps. Denny Heck and Wm. Lacy Clay.
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