Washington, D.C. — As Congress considers reauthorizing the Export-Import Bank of the United States (ExIm), a new column from the Center for American Progress argues that lawmakers should take the opportunity to reimagine the bank to maximize its impact on American competitiveness and affordable green growth.
“The Export-Import Bank can be an important part of the United States’ industrial policy toolkit, as well as a driver of job creation and higher standard growth. But achieving this potential requires updates and improvements to the bank,” said Ryan Mulholland, senior fellow for international economic policy at CAP.
Among the recommendations, Congress should:
- Prohibit financing for projects that would raise domestic fuel prices.
- Eliminate the statutory default rate cap to allow for higher-risk/higher-impact investments.
- Enhance the bank’s Make More in America Initiative.
- Allow the bank to support industrial decarbonization efforts.
- Focus financing on small and medium-sized supply chain firms.
- Strengthen labor and human rights standards.
- Establish a national interest window that incentivizes strategic risk.
- Develop and enforce strong anticorruption standards.
Read the column: “ExIm Reauthorization Is a Chance to Reimagine the Bank as a Potential Engine of Climate Action, Industrial Development, and Job Creation” by Ryan Mulholland and Courtney Federico
For more information or to speak with an expert, please contact Sam Hananel at [email protected].