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house Bill H.R. 3114

Shutting Down the Export-Import Bank in 3 Years

Argument in favor

The Export-Import Bank is nothing more than taxpayer-backed corporate welfare. Export subsidies — like those provided by the Ex-Im Bank — don’t create jobs, and only fuel an international subsidy bidding war.

Chase's Opinion
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07/21/2017
Again, I'm marveling at the left's response. The ex-im bank gives a huge market advantage to large corporations at the expense of taxpayers.you'd think the left would jump on board right away but nope, republicans proposed it so it must be evil!
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Leo's Opinion
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07/21/2017
The import export bank loans accounted for only 1.2 percent of exports in 2013. This does not seem to be worth using taxpayer money for when there are infrastructure investments in this country that could use funding.
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Pat's Opinion
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07/21/2017
Has no sound economic justification for existing. Is a rent-seek by politically connected trading firms. Let's get rid of it for good. All trade-related banking is better done banks of trading agents choosing, not politicians' choosing.
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Argument opposed

With many of our economic competitors subsidizing their exports, failing to follow suit through the Ex-Im Bank would cost the U.S. jobs and hit small businesses the hardest. In uncertain economic times, those are consequences we can’t afford.

Karin 's Opinion
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07/21/2017
This move will hurt the small American exporters the most. Having worked in international banking for many years I probably know more about this than most politicians. "The Export–Import Bank of the United States (abbreviated as Ex-Im Bank or the Bank) is the official export credit agency (ECA) of the United States federal government.[1][2] Operating as a wholly owned federal government corporation,[1] the Bank "assists in financing and facilitating U.S. exports of goods and services".[1] Under its charter, the Bank does not compete with private sector lenders, but rather provides financing for transactions that would otherwise not occur because commercial lenders are either unable or unwilling to accept the political or commercial risks inherent in the deal."
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JayFeat's Opinion
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07/21/2017
While there are issues with the Export-Import Bank they aren't large enough to call for a shutdown of bank as a whole. The main issue with the Ex-Im Bank is the amount of profit large businesses see because of it, and because of that we need to do some light reform to ensure that only small businesses can reap the bank's benefits. Without it would be more difficult for most small exporters to get their products sold across the world, and therefore we would see a reduction of American products overseas. As for the distorts the markets argument, foreign governments already do this exact same thing. By doing this we don't distort the market, we balance it for the sake of our own companies. We need to insure that America stays a top player on the global economic stage, and this is a way to do it on the small business level.
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Marc's Opinion
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07/21/2017
This is a fools move and will result in a depression in America
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    Again, I'm marveling at the left's response. The ex-im bank gives a huge market advantage to large corporations at the expense of taxpayers.you'd think the left would jump on board right away but nope, republicans proposed it so it must be evil!
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    This move will hurt the small American exporters the most. Having worked in international banking for many years I probably know more about this than most politicians. "The Export–Import Bank of the United States (abbreviated as Ex-Im Bank or the Bank) is the official export credit agency (ECA) of the United States federal government.[1][2] Operating as a wholly owned federal government corporation,[1] the Bank "assists in financing and facilitating U.S. exports of goods and services".[1] Under its charter, the Bank does not compete with private sector lenders, but rather provides financing for transactions that would otherwise not occur because commercial lenders are either unable or unwilling to accept the political or commercial risks inherent in the deal."
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    While there are issues with the Export-Import Bank they aren't large enough to call for a shutdown of bank as a whole. The main issue with the Ex-Im Bank is the amount of profit large businesses see because of it, and because of that we need to do some light reform to ensure that only small businesses can reap the bank's benefits. Without it would be more difficult for most small exporters to get their products sold across the world, and therefore we would see a reduction of American products overseas. As for the distorts the markets argument, foreign governments already do this exact same thing. By doing this we don't distort the market, we balance it for the sake of our own companies. We need to insure that America stays a top player on the global economic stage, and this is a way to do it on the small business level.
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    This is a fools move and will result in a depression in America
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    A NAY vote is the correct vote. Everything republicans do screws up the the economy big time. Everyone suffers, especially the working class. Every time they get power we have very significant economic hiccups and recessions/depressions. Abolishing this export/import bank will be catastrophic.
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    The import export bank loans accounted for only 1.2 percent of exports in 2013. This does not seem to be worth using taxpayer money for when there are infrastructure investments in this country that could use funding.
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    Reforming the bank to assist smaller US businesses instead of only corporations seems the more legitimate path forward than abolishing a very useful agency.
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    With 90 percent of its business being contracted with small business, this would give small businesses no assistance in the global market. I know that there are also some high rollers that use this as well. But if this goes away, those high rollers have no problem finding assistance; but the small businesses will lose all power and assistance.
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    Has no sound economic justification for existing. Is a rent-seek by politically connected trading firms. Let's get rid of it for good. All trade-related banking is better done banks of trading agents choosing, not politicians' choosing.
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    Why would the government want to do away with something that helps small businesses compete in the world market?? That's what this bill will do. Our economic competitors subsidize their exports. Think about it, if we fail to follow suit using the Ex-Im Bank for small businesses so that they can continue to compete with big businesses in the US and the subsidized exports from other countries. This would cost the U.S. jobs and hit small businesses the hardest. These are consequences we can’t afford.
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    Sometimes things just need to be fixed rather than destroyed. I wish this administration could understand that for many issues!
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    This is a ridiculous move for America .
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    I thought we all hated Corporate Greed? The Export-Import Bank is yet another Big Government Scheme to finance Big Business at expense of the many. "In fiscal years 1998 through 2005, Ex-Im has issued $63.5 billion in loans and long-term guarantees. In those years, $33 billion of Ex-Im subsidies went to Boeing. That means that a majority — 52 percent — of Ex-Im’s money went to help just one company.” “Of the $9.3 billion in loan guarantees Ex-Im issued in fiscal 2009, $8.4 billion subsidized Boeing sales.” The government’s intervention into the economy not only distorts the Free Market exchange of goods and services but, also, favors those Big Businesses connected to the elected. No Thanks. Hard Pass.
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    Helps American businesses get products sold overseas, turns more money back to the treasury most years, default rate of less than 1%... why would we want to stop this? Some light reforms, sure, but shutting it down? That’s stupid.
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    Yet another Conservative tactic to put more control in a very few hands with all of the power. This appears to have more to do with consolidating power into something Republicans can manipulate more easily, without any oversight. How about modifying the program, such that it focuses on the small businesses that it was apparently intended to help. After a business reaches a specific revenue milestone, it can no longer be eligible to use this vehicle for business transactions outside of the United States.
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    To quote Christopherhall: There is a middle ground here: change policy and mission so that ExIm Bank only helps small exporters, linking it closely with the SBA. That will shrink its budget, fight waste, level the playing field and refocus ExIm on new, small and often tech-based businesses, thereby polishing and refining a successfully-run government agency. We need to stop breaking and destroying our government in a quest for "small government" because there is a point where government will be too small to protect our rights.
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    As a former employee of Exim I would hate so see that happen.Too few know how the bank works. Its role in international projects is now challenged by China and regional development bank. Its role in supporting Boeing and other workers is unparalleled. I strongly support continuation of the Bank
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    We don't want to hurt the smaller businesses.
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    If Franklin D Roosevelt started it and the Republicans want to shut it down - I say HELL NO!
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    Incredulous the havoc and ineptitude this administration continues display seemingly unabated by the GOP who have chosen party over people. Where is the focus on small businesses, one of the driving forces behind the economy? Sooner or later the chickens will come home to roost.
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