Export-Import Bank Reauthorization – Passage

Passage of the bill that would reauthorize the charter of the Export-Import Bank through fiscal 2029 and would increase the amount of loans, guarantees, and insurance the bank may have outstanding at any one time from $135 million to $175 million, increasing the amount annually through fiscal 2026. It would redesignate the agency as the "United States Export Finance Agency." Among other provisions, it would establish a number of offices within the agency, including an office focused on promoting the inclusion of minorities and women in the agency's workforce and activities and an office focused on financing for exports related to renewable energy, energy efficiency, and energy storage. It would increase from 25% to 30% the amount of Ex-Im Bank lending activity that must be directed to small businesses by fiscal 2029 and require the agency to prepare an outreach plan to inform small businesses about agency services. It would prohibit the agency from approving any transactions involving individuals subject to certain trade and economic sanctions or involving the People's Liberation Army or Chinese intelligence agency. It would establish alternative procedures for agency operations in the event of a quorum lapse on the board of directors, authorizing a temporary board that would include the U.S. trade representative and Trade and Commerce secretaries and could approve agency transactions.