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New Report Shows Taxpayers and Businesses Succeed Without Ex-Im Corporate Welfare

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Unread 04.25.19, 12:15 AM
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New Report Shows Taxpayers and Businesses Succeed Without Ex-Im Corporate Welfare

04.24.19 11:58 AM

A new analysis from the*Mercatus Center*examining*the Export-Import Bank and the aftereffects of a years-long lending cap*confirms what*we’ve known all along: businesses do not need*the Export-Import Bank to compete in the marketplace. Since 2015, when Ex-Im last had the required number of board members to approve*deals larger than $10 million, the Bank’s lending portfolio (both at home and abroad) has shrunk dramatically, resulting in myriad positive consequences for American taxpayers, consumers, and market competition broadly.* As shown in the report, U.S. exports*have not suffered since the Bank’s forced decrease in aid, actually rising from*$1.7 trillion in FY 2014 to $1.8 trillion in FY 2018. In other words,*the absence of large Ex-Im loans has had not negative effect on*U.S. exports. What’s more, the report illustrates that*since the lending cap went into effect, taxpayer exposure to risk has been severely diminished and the U.S. is sending less tax money to rich nations and their government-sponsored companies, namely China.* From FY 2014 to FY 2018, the Bank’s total loan approvals has dropped from $21 billion to just $3.6 billion, and its portfolio has almost halved from a peak in FY 2014 of $115.5 billion to $66 billion in FY 2018. Additionally, despite having the […]

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