Candidate Trump said he would abolish the Export-Import Bank, a federal agency that subsidizes foreign buyers of U.S. goods. Trump’s earliest budget framework listed Ex-Im among independent agencies to abolish.
But the White House’s latest budget framework leaves Ex-Im off the hit list. This follows many reports from congressional fans of Ex-Im that Trump had been persuaded to love the agency, which primarily subsidizes Boeing sales. (Though Treasury Secretary Steve Mnuchin suggested the agency could be retooled to serve small businesses.)
Ex-Im’s sister agency, the Overseas Private Investment Corporation is still on the kill list in Trump’s budget. OPIC subsidizes U.S. companies that want to set up business overseas, such as a Ritz Carlton in Turkey or a Wendy’s in the Republic of Georgia.
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Trump said while campaigning that he would get rid of the Ex-Im Bank. But @TPCarney notices Ex-Im survives in budget https://t.co/AHdHMDZZ0K
— Sarah Westwood (@sarahcwestwood) March 16, 2017
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