SBEA has been an outspoken proponent of an active, pro-small-business Export-Import Bank of the U.S. as a critical resource for small exporters who rely on Ex-Im’s financing and insurance products.
EX-IM BANK TIMELINE
Dec. 20, 2019 - Ex-Im Reauthorized Through 2026
The FY 2020 spending bill that was passed in Dec. 2019 included an extension to Ex-Im through 2026 and increases its required financing to small companies from 25 to 30 percent.
Dec. 4, 2015 - Ex-Im Reauthorized for Four Years
In December 2015, lawmakers passed a four-year reauthorization of Ex-Im Bank after being in limbo after nearly six months of operating absent a Congressionally approved charter.
June 30, 2015 - Ex-Im Bank charter expires
Sept. 2014 - Ex-Im Bank charter is extended to June 30, 2015 as part of a stopgap government funding Continuing Resolution.
2012- Congress passed the Export-Import Bank Reauthorization Act of 2012 (P.L. 112-122) to reauthorize Ex-Im through FY2014, September 30, 2014.
2011- The 112th Congress extended Ex-Im Bank’s authority through May 2012 with the FY2012 Consolidated Appropriations Act (P.L. 112-74).
2007- Ex-Im Bank became a self-sustaining (self-funding) agency
2006- The Export-Import Bank Reauthorization Act of 2006 (P.L. 109-438) was signed into law, extending the Bank’s authority through FY2011, Sept. 30, 2011
2002- Passage of the Export-Import Reauthorization Act of 2002 (P.L. 107-189) renewed the bank’s charter through FY2006, and included new rules for the provision of loans and insurance.
1997- Congress passed the Export-Import Bank Reauthorization Act of 1997 (P.L. 105-121) to extend the authority of the Bank through FY 2001.
1968- The Bank’s name changed to "Export-Import Bank of the United States” with the signing of P.L. 90-267.
1945- Congress established the Bank’s status as an independent U.S. government agency with passage of the Export-Import Bank Act of 1945 (P.L. 79-173).
1945- Congress established the Bank’s status as an independent U.S. government agency with passage of the Export-Import Bank Act of 1945 (P.L. 79-173).
1935- 1936- Ex-Im Banks Merged: Congress combined the first and second Export-Import Banks.
March 1934- Creation of Second Export-Import Bank: President Roosevelt created a Second Export-Import Bank of Washington with Executive Order 6638, to aid trade with Cuba. The Bank’s first transaction extended $3.8 million to Cuba for the purchase of silver ingots.
February 1934- The Export-Import Bank of Washington Established: President Franklin D. Roosevelt by Executive Order 6581 established the Export-Import Bank of Washington to finance U.S. trade with the newly-recognized Soviet Union.
BACKGROUND
The Export-Import Bank of the U.S. (Ex-Im Bank), an independent federal government agency, is the official export credit agency (ECA) of the U.S. Ex-Im helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers—providing a variety of financial guarantees to help foreign buyers purchase U.S. goods and services. Thousands of small and medium-sized enterprises depend on the Ex-Im Bank to reach new markets.
Ex-Im Bank operates at a profit, returning almost $7 billion to the U.S. Treasury over the last two decades. In 2014, Ex-Im returned $645 million to the taxpayers and approved more than 3,700 transactions with export value of $20.5 billion.
SBEA has been active in urging Congress to enact long-term reauthorizations of Ex-Im Bank as it is a critical resource for small-business exporters. It is crucial the Bank maintain its congressionally approved lending authority allowing the Bank to operate without restrictions, so companies have the certainty and predictability they need to level the playing field and compete in the international marketplace.
This most recent reauthorization was for seven years, the longest period in recent times.
