The Us Export-Import Bank: A Review of the Debate Over Reauthorization
25 Pages Posted: 12 Jul 2018
Date Written: 07/16/2014
The Export-Import Bank of the United States is a government-owned bank that provides taxpayer-backed financing to private exporting corporations. Supporters of the bank argue that it is a critical tool to promote exports, create jobs, support small businesses, improve competitiveness, and protect taxpayers. We review the data and conclude that none of these arguments holds true. Rather, the Export-Import Bank is a protectionist agency that provides political privileges to well-connected firms at the expense of all other citizens. The federal government should not be trying to pick winners and losers through credit markets at taxpayers' risk. The charter of the bank should be allowed to expire.
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