WASHINGTON - On May 31, with the Senate poised to vote on a measure to reauthorize the Export-Import Bank, Information Technology and Innovation Foundation President Rob Atkinson made the following statement:
“The Ex-Im Bank should have never been the subject of controversy. At a time when other countries are dramatically ramping up export assistance to help their companies, it would have been unthinkable to abandon U.S. companies. Fiscal discipline is fine except when it is anti-growth. Ex-Im Bank financing helped supported more than $40 billion in exports and 290,000 export-related American jobs. What’s more, the Ex-Im Bank has returned $3.4 billion to the U.S. Treasury above and beyond the cost of its operations over the past five years. For a Congress looking to boost U.S. competitiveness and create jobs, this was a vote delayed by political rhetoric for far too long.”
More of ITIF’s recent work on export financing’s relationship to global competitiveness:
The Information Technology and Innovation Foundation (ITIF) is a Washington, D.C.-based think tank at the cutting edge of designing innovation strategies and technology policies to create economic opportunities and improve quality of life in the United States and around the world. Founded in 2006, ITIF is a 501(c)(3) nonprofit, non-partisan organization that documents the beneficial role technology plays in our lives and provides fact-based analysis and pragmatic ideas for improving technology-driven productivity, boosting competitiveness, and meeting today's global challenges through innovation. For additional information, visit ITIF at www.itif.org or contact Steve Norton at (202) 626-5758 or [email protected].