Congress now has to reauthorize US Export-Import Bank

CCTV News

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On June 30th, the United States Export-Import Bank’s charter expired, causing a temporary shutdown. Now, Congress must decide whether to reauthorize the bank. Critics say it promotes ‘corporate cronyism’, but supporters say the 81-year-old government entity is an essential tool for businesses to compete in the global marketplace. CCTV’s May Lee filed this report from Los Angeles.

Congress now has to reauthorize US Export-Import Bank

Congress now has to reauthorize US Export-Import Bank

On June 30th, the United States Export-Import Bank's charter expired, causing a temporary shutdown. Now, Congress must decide whether to reauthorize the bank. Critics say it promotes 'corporate cronyism', but supporters say the 81-year-old government entity is an essential tool for businesses to compete in the global marketplace.

Follow May Lee on Twitter @mayleetv