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Read. Follow. Verify.Senate Hearing on Export-Import Bank Oversight and Reauthorization
Record date · January 1, 2019
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What This Bill Does
The Senate Committee on Banking, Housing, and Urban Affairs held a hearing to discuss the future of the Export-Import (EXIM) Bank of the United States. The discussion focused on the bank's role in helping U.S. companies compete internationally against foreign subsidies and the upcoming expiration of the bank's charter.
The Export-Import Bank's charter is set to expire at the end of September 2019, and this hearing initiates the legislative process to determine if and how the bank will be reauthorized to continue providing export financing to U.S. businesses.
Who It Affects
Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.
U.S. Exporters
These businesses rely on the bank's financing to compete with foreign companies that receive government subsidies.
Small and Medium-sized Businesses
The committee is reviewing how to better promote these businesses within the bank's authorization process.
American Taxpayers
The committee is evaluating how to minimize financial risk to taxpayers through the bank's operations.
Key Facts
- The Export-Import Bank's charter is set to expire at the end of September 2019.
- The Senate Committee on Banking, Housing, and Urban Affairs is currently debating the terms for the bank's reauthorization.
- The bank has a statutory mandate to allocate 20 percent of its authorizations to small businesses.
- The bank has historically struggled to meet the 20 percent small business mandate in terms of total dollar volume.
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- Kimberly Reed was recently confirmed as President and Chairman of the Export-Import Bank.
- Spencer Bachus and Judith Pryor were recently confirmed as board members.
- Nominations for Claudia Slacik and Paul Shmotolokha as board members are pending before the full Senate.
- The 2017 EXIM Bank Competitiveness Report indicated that Chinese export credit agencies provide more medium- and long-term investment support than the rest of the world combined.
- The hearing addressed the implementation of reforms initiated in the 2015 reauthorization.
Frequently Asked Questions
What does the Export-Import Bank do?
When does the bank's authority expire?
What is the 'small business mandate'?
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News Coverage
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Votes, people, money & the original sourceFull breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Focus on China Competition
The hearing explicitly frames the bank's existence as a necessary response to Chinese export credit subsidies, shifting the narrative from general trade support to national security.
Connected Entities
Sources
www.govinfo.gov
Analysis Score
0–100- Significance80How much this matters to a regular citizen
- Controversy40Intensity of disagreement among stakeholders
- Entertainment10Compellingness for a non-policy-wonk reader
- Buzz20Current news / social attention level
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