Ending the Export-Import Bank
Cato Sponsor e-Briefing
Thursday, September 4, 2014
2:00 – 2:30 p.m. (eastern)
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Featuring a presentation and live discussion with Daniel J. Ikenson, Director, Herbert A. Stiefel Center for Trade Policy Studies, Cato Institute; moderated by Caleb O. Brown, Director of Multimedia.
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The debate in Congress over reauthorizing the Export-Import Bank—a government-run agency that provides financing for foreign customers of some U.S. companies—is headed for a showdown in September. Supporters argue Ex-Im fills a void in the market and levels the playing field for U.S. exports competing abroad. Opponents argue the bank is simply a form of crony capitalism. The bank puts taxpayer dollars at risk, distorts incentives, forges too close a relationship between government and business, and fails to account for the collateral damage—costs imposed on other U.S. companies.
Among these ignored consequences is the competitive boost that U.S. subsidies provide to foreign competitors of downstream U.S. companies. Ex-Im may help some U.S. exporters, but it penalizes U.S. companies in downstream industries. Dan Ikenson, director of the Herbert A. Stiefel Center for Trade Policy Studies, will join us to take your questions, discuss his work on the topic, and offer his thoughts on the prospects for reform in Congress.
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