Ex-Im Bank Likely to Lapse as Congress Lacks Path to Votes

Bloomberg reports:

The U.S. Export-Import Bank is likely to lose at least temporarily its authority to support U.S. companies such as Boeing Co. and agricultural plane-maker Air Tractor Inc. in selling goods abroad.

Its backers in Congress have yet to find a way to force a vote to renew the 81-year-old institution’s charter, which expires at the end of June, despite assertions they have counted heads and would prevail.

While big businesses, including Chicago-based Boeing, might be able to provide some financing themselves, an expiration of Ex-Im’s charter would hamstring small businesses, advocates say. They worry that once the charter lapses, U.S. exporters might permanently lose customers who turn to rivals in other countries with export credit agencies.

The battle against the rent-seekers heats up.