A new study produced by an opponent of the Export-Import Bank of the United States claims some states get a disproportionate share of the bank’s benefits while taxpayers from other states guarantee its loans.
More than 43.6 percent of the bank’s loan benefits go to companies in Washington state because of Boeing’s heavy use of Export-Import Bank financing, the study, by a senior research fellow at George Mason’s Mercatus Center, says. Meanwhile, Missouri enjoys just 0.6 percent of the benefits.
The bank’s taxpayer-backed loan guarantees supported about $37.4 billion in export sales last year, including about $1 billion from Missouri. Between 2007 and 2014, about 1.5 percent of exports from Missouri had the bank’s support.
Congress is set to decide on re-authorization of the Export-Import Bank when legislators return to Washington in September. Without congressional action, the bank’s authorization ends in October.