A look at the Export-Import bank

Lizzie O'Leary Jul 18, 2014
HTML EMBED:
COPY

A look at the Export-Import bank

Lizzie O'Leary Jul 18, 2014
HTML EMBED:
COPY

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.


*CORRECTION: An earlier version of this story provided the misspelled the name of Jan Boyer. The text has been corrected.

 

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.  

Need some Econ 101?

Our new Marketplace Crash Course is here to help. Sign-up for free, learn at your own pace.