Treasury Secretary Jacob Lew (center) speaks with (from left) Sen. Ben Cardin, D-Md., Ellicott Dredges GM Craig Murdock and CFO Joseph Wendel during a tour of the company’s manufacturing facility in March. Lew was on hand to promote investment in American infrastructure. The company has utilized the Export-Import Bank’s services.
An agency of the federal government will have to stop doing business today. That’s because members of Congress went home last week for the July Fourth recess without reauthorizing the Export-Import Bank.
The bank helps American companies sell their goods overseas. The bank’s critics say they’re stopping corporate welfare.
Back in May of this year Boeing threatened to outsource jobs if ex-im bank is shut down.