In Congress, there’s been a big, heated debate about a bank most people probably haven’t heard of: The Export-Import Bank of the United States, commonly called the Ex-Im.
The bank’s charter expires in September, and many conservative Republicans would like to kill it, while others are calling for reforms.
Conservatives say the Ex-Im bank is bloated, inefficient, comes at a high cost to the taxpayer and is really just a form of corporate welfare for big companies, including Boeing.
But Democrats and some Republicans say Ex-Im helps small businesses enter foreign markets, helping boost exports.
To help explain what the Ex-Im bank does and put it in context, we took a little field trip to a fabric whole seller in New York City who once did business with the bank. We also spoke with entrepreneur and investor Jan Boyer* in Washington, D.C.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.