Washington, D.C., Government Affairs Update- August 3, 2015
Fan or not of the Export-Import Bank, the debate rages on. The Charter for the Export-Import Bank expired in June. NAM and other business groups are pushing for the reinstatement of Ex-Im sighting American business’s disadvantage in the global market place without this tool.
Opponents of the Ex-Im led by conservatives in both the House and the Senate believe that the bank doles out “corporate welfare” to favored firms. Opponents also believe that the banks usefulness is overstated by supporters.
Background: The Export-Import Bank has served American businesses for the last 81 years who compete internationally. Ex-Im was started by President Franklin D. Roosevelt during the Great Depression to boost exports. Its stated purpose is to help provide financing for companies looking to do business in foreign markets.
Bloomberg’s Quick-take here of both sides:
Ex-Im prospective from Boeing Chairman: