Today is a victory day of sorts. Ex-Im’s charter has expired, and Congress declined to reauthorize it. The agency will remain open and will service its existing loan guarantees, but cannot make new ones. As of this writing, its website also says “authority has lapsed” in big capital letters (see picture above).
This victory was a team effort all the way. Over at the Cato Institute blog, Dan Ikenson celebrates (cross-posted at the Foundation for Economic Education) and gives kudos to a lot of the team’s key players. I am honored that he lists me among them.
This fight is far from over, but today marks an important milestone. More to say on that soon.