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Jeb Hensarling
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...

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