Congress should raise the Export-Import Bank’s authorization limit to at least $200 billion.
In May 2012, President Obama signed Congressional legislation that reauthorized the Export-Import Bank (Ex-Im Bank) for three additional years while raising its lending authority by 40 percent to $140 billion by 2014. While this is an important step in the right direction, the reality is that foreign competitors continue to invest substantially more in their countries’ export credit agencies (ECAs) as a share of GDP than the United States does. For example, in 2010, Brazil and China provided ten times more and Germany, France, and India all provided at least seven times more export credit financing to their exporters as a share of GDP than did the United States. To adequately respond to increasing foreign export credit competition, Congress should raise the Ex-Im Bank’s authorization limit to at least $200 billion.