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Publisher Description

This enormous compilation of documents provides a comprehensive overview of the Export-Import (Ex-Im) Bank, the official export credit agency of the United States. Legislation was enacted in the 112th Congress to extend Ex-Im Bank's authority through the close of business on September 30, 2014 and to raise its exposure cap (total amount of outstanding credit and insurance authority) to $140 billion by fiscal year 2014. Currently, Congress is debating whether to renew Ex-Im Bank's authority and, if so, for how long and under what terms. There are many critics of the bank who believe that it represents corporate welfare; supporters point to the jobs created by exports financed by the bank.

Contents: 2014 House Committee Hearing, Examining Reauthorization of the Export-Import Bank: Corporate Necessity or Corporate Welfare? * 2013 House Committee Hearing, Assessing Reform at the Export-Import Bank * 2010 Senate Committee Hearing, Ex-Im Bank Oversight: The Role of Trade Finance in Doubling Exports Over Five Years * 2006 House Committee Hearing, Reauthorization of the Export-Import Bank of the United States * 2004 House Committee Hearing, Oversight of the Export-Import Bank of the United States * 2001 Senate Committee Hearing, Reauthorization of the Export-Import Bank of the United States * GAO Report: Export-Import Bank - Recent Growth Underscores Need for Continued Improvements in Risk Management - March 2013 * Export-Import Bank: Overview and Reauthorization Issues (June 2014 CRS) * U.S. Government Agencies Involved in Export Promotion: Overview and Issues for Congress (2013 CRS) * Export-Import Bank: Background and Legislative Issues (2012 CRS) * Reauthorization of the Export-Import Bank: Issues and Policy Options for Congress - (2012 CRS) * Export-Import Bank of the United States 2013 Annual Report and Material * Ex-Im Bank Speeches and Testimony * Ex-Im Strategic Plan

Members of Congress hold a range of views on Ex-Im Bank. Proponents assert that the Bank supports U.S. exports by addressing market failures that dampen export levels and helps U.S. exporters compete against foreign companies backed by their governments' ECAs. Critics oppose the use of taxpayer funds for private benefit, whether for large or small businesses, and contend that the private sector is more efficient in financing exports. The Ex-Im Bank reauthorization issues facing Congress are two-fold. The first issue is whether to renew the Bank in its current form, or pursue alternatives, such as privatizing or reorganizing its functions. In April 2014, the Obama Administration submitted a legislative proposal to Congress requesting a reauthorization of Ex-Im Bank. Second, should Congress choose to renew Ex-Im Bank's authority, specific reauthorization issues could include the following:

• How long should Ex-Im Bank be reauthorized for? A shorter renewal period, as provided in 2012, could allow for more active congressional oversight of Ex-Im Bank. A longer renewal, such as four to five years, typical of past reauthorizations, could enhance Ex-Im Bank's long-term planning and provide more assurance to those involved in Ex-Im Bank-supported transactions. The Administration's legislative proposal calls for a five-year renewal of the Bank's authority.

• Should Ex-Im Bank's exposure cap be adjusted and if so, by what amount? Congress has periodically raised the Bank's exposure cap. Given growing demand for Ex-Im Bank's services, some call for an increase in the Bank's exposure limit. Critics have, in part, opposed raising the cap based on concerns about Ex-Im Bank's risk management practices, and may favor maintaining or lowering the cap. The Administration's legislative proposal asks for the cap to be raised incrementally to $160 billion by FY2018.

GENRE
Business & Personal Finance
RELEASED
2014
July 16
LANGUAGE
EN
English
LENGTH
1,729
Pages
PUBLISHER
Progressive Management
SIZE
1.1
MB

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