Trump Is Right: Keep the Export-Import Bank

The House of Representatives has a bill pending to extend the life of the Export-Import Bank.  The majority, consisting of Democrats and centrist Republicans dedicated to the bill, guarantees its passage by the House. President Trump has already indicated his support by appointing former Rep. Scott Garrett, considered a critic of Ex-Im bank practices, for the Ex-Im Bank's top post for a four-year term and by nominating Spencer Bachus III, a former Republican congressman from Alabama, to the board. The Export-Import bank plays a vital role in promoting American jobs by helping foreigners buy American exports.  It is an independent government agency that guarantees loans, usually by U.S. commercial banks, to importers of U.S. goods in order to promote American exports. The government does not subsidize the loans that the Ex-Im Bank guarantees. But the rates of those loans are considered lower than they would be, without the government guarantee, and some...(Read Full Article)