house Bill H.R. 4863
Should Congress Reauthorize & Increase Export Finance Lending for 10 Years?
Argument in favor
The Export-Import Bank needs to be reauthorized and reformed, so updating the agency and rebranding it as the U.S. Export Finance Agency makes sense. Increasing the lending cap gradually over the course of this 10 year reauthorization is sensible, as are the provisions aimed at helping small businesses, promoting diversity & inclusion, and encouraging energy efficient investments.
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11/14/2019
Yes, the EXIM bank tends to be more supportive of established and profitable corporations. Yes, the EXIM bank should operate independently from political influence. Yes, their should be more support for new businesses needed to establish foreign markets. While all of these ‘negatives’ are true, there are also some ‘positives’. From prior stats, the EXIM bank underwritten loans, have resulted in net positive returns to our treasury- with some losses some years, but overall net positive returns of 10’s of billions to the treasury (it may be much more or somewhat less, I can’t recall the specific numbers). Building foreign markets for products that require large capital investments over a long period of time carry risks that banks would rather not undertake and large fluctuations in capital reserves are something that publicly traded companies are often unwilling to take on, since it effects stock valuations and investor returns, particularly for the larger companies which tend to be predominately featured parts of 401K mutual fund packages. These companies are faced with international competitors that are directly supported by their governments to cover these risks and this puts our companies at a great competitive disadvantage without the EXIM bank- which is bad for our economy. The EXIM bank helps to level the playing field. I support the EXIM bank’s role for these long term capital investment driven products, which have historically resulted in long term returns to our county’s treasury. I do believe that some re-thinking of the EXIM bank’s charter is warranted to assure it’s independence from undue politicization and to expand it’s role in judiciously supporting new companies expansion into foreign markets. I support renewing the EXIM bank for a shorter period, say 3 years, to coincide with a detailed review of it's effectiveness in meeting small business development, economic returns from investments and overall effectiveness
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11/14/2019
The import export bank does create and maintain jobs and employment, for both small and large companies. The lending of money to both domestic and foreign companies help domestic buyers and sellers of goods. As an example, Boeing company benefits by the money loan by the export import bank to foreign airplane companies to buy American airplanes. Boeing employs hundred of thousand of people and indirectly is supported by 800 - 1000 businesses both domestic and foreign. Local business also benefit in loans locally and the same way Boeing and many other companies benefited the export import bank, helps Americans industry and employment. I don’t think the people understand the importance of the export import bank to America!
11/14/2019
Reauthorization is sensible since it’s main priorities are the provisions aimed at helping small businesses, promoting diversity & inclusion, and encouraging energy efficient investments
Argument opposed
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 serve as fuel for an international subsidy bidding war. Congress should shut down the Ex-Im Bank by allowing its authorization to expire, rather than rebranding and reauthorizing it with a host of requirements that effectively pick winners and losers.
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11/14/2019
Before authorizing more expenditures write and pass a budget so you can be sure you have the funds. Quit spending funds you don’t have!
Well the bill passed, when are the tax and spend Democrats going to get it through their thick heads that money doesn’t grow on trees? I guess for them it does look at where Maxine Waters lives in a 4 million dollar house and not even in her district. There are too many homeless in her district.
11/14/2019
The Export Import “Bank” is a corporate boondoggle and unconstitutional. There is no power granted to congress to authorize funding for subsidizing financing for corporations. If Boeing wants to seek planes to China, then Wells Fargo can finance it. Not the American taxpayer. This is why the constitution was written with very few enumerated and specific powers. So the well connected could not use the public purse strings to further their own ends.
11/15/2019
The last thing this country needs is another government run agency. More government is never the right answer. Government is the reason this country is in a downward spiral, and has been for decades, let’s not at more fuel to the fire.
Yes, the EXIM bank tends to be more supportive of established and profitable corporations. Yes, the EXIM bank should operate independently from political influence. Yes, their should be more support for new businesses needed to establish foreign markets. While all of these ‘negatives’ are true, there are also some ‘positives’. From prior stats, the EXIM bank underwritten loans, have resulted in net positive returns to our treasury- with some losses some years, but overall net positive returns of 10’s of billions to the treasury (it may be much more or somewhat less, I can’t recall the specific numbers). Building foreign markets for products that require large capital investments over a long period of time carry risks that banks would rather not undertake and large fluctuations in capital reserves are something that publicly traded companies are often unwilling to take on, since it effects stock valuations and investor returns, particularly for the larger companies which tend to be predominately featured parts of 401K mutual fund packages. These companies are faced with international competitors that are directly supported by their governments to cover these risks and this puts our companies at a great competitive disadvantage without the EXIM bank- which is bad for our economy. The EXIM bank helps to level the playing field. I support the EXIM bank’s role for these long term capital investment driven products, which have historically resulted in long term returns to our county’s treasury. I do believe that some re-thinking of the EXIM bank’s charter is warranted to assure it’s independence from undue politicization and to expand it’s role in judiciously supporting new companies expansion into foreign markets. I support renewing the EXIM bank for a shorter period, say 3 years, to coincide with a detailed review of it's effectiveness in meeting small business development, economic returns from investments and overall effectiveness
Before authorizing more expenditures write and pass a budget so you can be sure you have the funds. Quit spending funds you don’t have!
Well the bill passed, when are the tax and spend Democrats going to get it through their thick heads that money doesn’t grow on trees? I guess for them it does look at where Maxine Waters lives in a 4 million dollar house and not even in her district. There are too many homeless in her district.
The import export bank does create and maintain jobs and employment, for both small and large companies. The lending of money to both domestic and foreign companies help domestic buyers and sellers of goods. As an example, Boeing company benefits by the money loan by the export import bank to foreign airplane companies to buy American airplanes. Boeing employs hundred of thousand of people and indirectly is supported by 800 - 1000 businesses both domestic and foreign. Local business also benefit in loans locally and the same way Boeing and many other companies benefited the export import bank, helps Americans industry and employment. I don’t think the people understand the importance of the export import bank to America!
Reauthorization is sensible since it’s main priorities are the provisions aimed at helping small businesses, promoting diversity & inclusion, and encouraging energy efficient investments
The Export Import “Bank” is a corporate boondoggle and unconstitutional. There is no power granted to congress to authorize funding for subsidizing financing for corporations. If Boeing wants to seek planes to China, then Wells Fargo can finance it. Not the American taxpayer. This is why the constitution was written with very few enumerated and specific powers. So the well connected could not use the public purse strings to further their own ends.
The last thing this country needs is another government run agency. More government is never the right answer. Government is the reason this country is in a downward spiral, and has been for decades, let’s not at more fuel to the fire.
Yes but make the reviews occur every 3 or at most 5 years to avoid creating another albatross agency. See also JimK comment for the story. Thanks again Jim.
Let's repair and revitalize the United States before taking on any more spending projects aimed at benefitting the wealthy in the rest of the world!
This is not an appropriate function of government or use of the taxpayers money.
Our Nation is in debt. Congress is putting us deeper in debt daily. Stop spending. Balance our Budget. End welfare, individual, and companies.
Tax payers and debt shoul not be used to supplement import and export companies including small businesses. First balance the budget and build the wall.
Without the Exim bank, a lot of small businesses would not be able to compete. Big corporations are already bankrupting the likes of Sears and other retail businesses that aren’t even small. And to top that off, cutting off access to foreign trade would only increase the rate of business failure here in America. Definitely should increase awareness of what Exim can do for small businesses. Decrease focus on big corporations like Boeing. Let foreign buyers choose who they do business with because Exim shouldnt have power to choose who does well in foreign markets. Lack of trust is why Republicans are trying to get rid of this agency; restore that trust by prioritizing success of smaller businesses.
This has worked well since 1931 helping all businesses get into the import/export business . Not just the hand picked ones.
Lots of security and making sure nothing else dangerous is a included in our new stuff...