Ex-Im Bank Reauthorized for Seven Years

Congress has reauthorized the Export-Import Bank (Ex-Im) for seven years as part of a must-pass government funding bill. Often called the “lender of last resort” for U.S. businesses competing for overseas contracts, Ex-Im has been used by more than 200 Ohio manufacturers since 2014, producing a total export value of $2 billion.

Addressing a key business concern, the bipartisan reauthorization plan established a temporary board for times when there are an insufficient number of Senate-confirmed members. In a press release, Ex-Im President and Chairman Kimberly A. Reed praised both President Donald Trump and U.S. Sen. Sherrod Brown (D-OH), the ranking member of the Senate Banking Committee. 12/19/19