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FEDERALhearing transcript

High Impact

Hearing on Reauthorizing the U.S. Export-Import Bank

Original title: PROMOTING AMERICAN JOBS: REAUTHORIZATION OF THE U.S. EXPORT-IMPORT BANK

Record date · January 1, 2020

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What This Bill Does

The House Committee on Financial Services held a hearing on June 4, 2019, to discuss the of the U.S. Export-Import Bank (Ex-Im). The hearing focused on the Bank's role in supporting American jobs and helping U.S. companies compete in global markets by providing export financing.

Why it matters

The Export-Import Bank's operating charter was set to expire on September 30, 2019, which would impact the availability of government-backed credit for U.S. exporters.

Who It Affects

Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.

Directly affected

U.S. Exporters

These businesses rely on the Bank for credit financing to compete with foreign companies.

Directly affected

U.S. Treasury

The Treasury receives remittances from the Bank's operations.

Key Facts

The Export-Import Bank's operating charter was scheduled to expire on September 30, 2019.
The Bank has operated for 85 years to assist U.S. exporters in assuming credit risks.
Over the 10 years prior to 2019, the Bank financed more than $255 billion in U.S. exports.
The Bank supported more than 1.5 million American jobs over the 10 years prior to 2019.

Show all 6 facts

The Bank remitted more than $3.4 billion in receipts to the U.S. Treasury over the 10 years prior to 2019.
The Bank's charter previously lapsed in July 2015.

Frequently Asked Questions

What is the purpose of the Export-Import Bank?

The Bank helps U.S. exporters compete in global markets by assuming credit risks that the private sector may be unable or unwilling to accept.

When was the Bank's charter set to expire?

The operating charter was set to expire on September 30, 2019.

What else do you want to know?

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Full breakdown

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Discoveries

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Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift100% confidence

Historical Lapse in Authority

The document notes that the Bank's charter previously lapsed in 2015, highlighting a history of legislative instability for the agency.

U.S. Export-Import Bank

Connected Entities

U.S. Export-Import Bank, International Association of Machinists and Aerospace Workers, National Association of Manufacturers and 3 more

OrganizationU.S. Export-Import Bank“Federal agency providing export financing”Map →

OrganizationInternational Association of Machinists and Aerospace Workers“Represented by witness Owen Herrnstadt”Map →

OrganizationNational Association of Manufacturers“Represented by witness Linda Menghetti Dempsey”Map →

OrganizationU.S.-China Economic and Security Review Commission“Represented by witness Roy D. Kamphausen”Map →

PersonWaters, Maxine“Chairwoman of the House Committee on Financial Services”Map →

OrganizationU.S. Chamber of Commerce“Represented by witness David Hinson”Map →

Sources

Open source document

www.govinfo.gov

Analysis Score

0–100

Significance80
How much this matters to a regular citizen
Controversy40
Intensity of disagreement among stakeholders
Entertainment10
Compellingness for a non-policy-wonk reader
Buzz20
Current news / social attention level

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