This post references an article originally written by Andrew Ackerman for The Wall Street Journal, published on June 18, 2019.
Representative Maxine Waters and Representative Patrick McHenry reached an agreement on Tuesday night which would keep Ex-Im Bank open for another 7-years. The agreement will allow the bank to remain operational and at the same time apply a series of new financing restrictions. The imposed restrictions would include “steps to ensure the agency doesn’t provide subsidies to certain state-owned firms in China [and] boost lending to smaller businesses”. The agreement is still pending approval from the Senate, but the House is hopeful that the added restrictions will help convince Senate Republicans, who have a historically unfavorable view of the bank. If approved, the agreement would also mean a name change for the bank—“The United States Export Finance Agency”.
Read the full story on The Wall Street Journal.
-Paola Gasca, Analyst