According to a Financial Times report, the proposal aims to secure the institution’s financing authority for another decade while boosting its capacity to back strategic industries.
- Senator Kevin Cramer and Senator Mark Warner will introduce a bill on Capitol Hill this week to reauthorize and enlarge the bank’s funding.
- Under the draft legislation, the cap on the Ex-Im Bank’s lending authority would jump from $135 billion to $205 billion.
- The push comes amid a broader U.S. campaign to reduce dependence on China for essential raw materials.
U.S. lawmakers from both political parties are reportedly moving to extend and expand funding for the U.S. Export-Import Bank, a government-backed lender that supports American exporters in global markets.
According to a Financial Times report, the proposal aims to secure the institution’s financing authority for another decade while boosting its capacity to back strategic industries.
New Funding And Expanded Mandate
Under the draft legislation, the cap on the Ex-Im Bank’s lending authority would jump from $135 billion to $205 billion. Backers say this would allow the agency to underwrite larger deals for U.S. companies that struggle to secure private financing abroad, especially in critical sectors such as energy and mining.
Cramer told the Financial Times that President Donald Trump strongly supports the effort, seeing the bank as a necessary tool to help domestic firms compete internationally.
Senator Kevin Cramer and Senator Mark Warner will introduce a bill on Capitol Hill this week to reauthorize and enlarge the bank’s funding, cited the report.
Trade And Critical Minerals Focus
The push comes amid a broader U.S. campaign to reduce dependence on China for essential raw materials.
On Tuesday, Trump’s administration launched a $12 billion minerals stockpile scheme, combining private sector contributions with a substantial government loan. The reserve dubbed Project Vault will include roughly $2 billion from private investors with a $10 billion loan from the U.S. Export‑Import Bank to buy and store minerals essential to sectors like automotive, aerospace, and electronics.
Last year, Beijing tightened export rules on rare earths, which are vital to industries ranging from aerospace to electric vehicles. According to the report, Cramer and Warner contend that a more powerful Ex-Im Bank would support projects in critical minerals, energy and other high-priority sectors and strengthen supply chains.
China controls more than 90% of the world’s refined rare-earth metals.
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