Economic Program | Memo

A Government Bank that Turns a Profit: Why the Export-Import Bank Should be Reauthorized

by Ed Gerwin

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This memo explains why shutting down or sharply curtailing the operations of the Export-Import Bank of the United States is a terrible idea.

Some free market purists are putting common sense aside and are targeting the Bank, even though it is a self-sustaining organization that returns $800 million annually to American taxpayers, creates or sustains some 390,000 American jobs at over 3600 companies and supports over $40 billion in American exports annually that are helping to grow our economy.

In this memo, we answer key questions about the Bank and its export financing programs, and explain why a long-term re-authorization of the Bank is vital to help American exporters and their workers compete against foreign competitors who are aggressively backed by their governments.

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