The FY 2020 Appropriations agreement between the House and Senate contains the reauthorization of the Export Import Bank of the United States through 2027. The Bank’s previous authorization expired on September 30, 2019. The House passed H.R. 1865 (with Senate Amendment) yesterday, which contains the reauthorization. It will now be considered by the Senate and most certainly will pass.
The bill contains a provision that ensures the EXIM Bank will have a functioning Board. Over the past four years, the Bank has often had a Board lacking a quorum due to the Senate’s inability to approve appointments. This has seriously restricted the Bank’s operations. Under this reauthorization, if the Board lacks a quorum for 120 days, the U.S. Trade Representative, the Secretary of the Treasury and the Secretary of Commerce automatically become Board members.
The legislation also contains significant provisions regarding small businesses and, separately, exports to China. We recommend members who export to China to review these provisions.
If you have any questions, please contact GAC Co-chairs: