In Case You Missed It: NBA in Baltimore

Topics

General Electric Company
Md. businesses press for renewal of U.S. export bank
Md. businesses press for renewal of U.S. export bank

When developing countries need to deepen a canal for irrigation or navigation, they frequently call on Ellicott Dredges, a 129-year-old Baltimore-based maker of dredging equipment. To sell their massive, multimillion-dollar machines abroad, Ellicott Dredges often turns to the U.S. Export-Import Bank — an obscure federal agency that facilitated more than $37 billion in exports last year. The 80-year-old bank, a New Deal-era institution that provides loans and credit guarantees, is now at the center of a debate between conservative Republicans and the rest of Congress. Critics say the bank is a corporate welfare program that has outlived its usefulness and now benefits mostly...

Loading