Ex-Im Bank Debate in Texas

By Bill O'Neil

The debate over the future of the Export-Import Bank arrives in Texas--with business leaders in the Lone Star State pressing for it's soon to expire charter to be renewed.  

Business experts said international trade is becoming more and more important to small business, and the bank plays a vital role. 

"Not only does it guarantee payment, with a loss ratio that's just about non-existent--it helps small businesses work through the intricacies of trade" said Texas Association of Business President Bill hammond.  

Critics however, including Texas Congressman Jeb Hensarling, say the banks biggest beneficiaries are companies from countries such as China and Russia. Hammond said there is a bigger picture to look at.  

"This agency is one of the few that actually retuens money to the taxpayers. Over the last five years the Ex-Im Bank has actually operated at a profit of over $2 billion" Hammond said.   


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Topics : Business_Finance
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Locations : Texas
People : Jeb Hensarling
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