Two common points made in defense of the Export-Import
bank are its recent profitability and the number of jobs it supports. During
the recent reauthorization debate, defenders argued that it would be silly to
cut a program that makes a profit for taxpayers and supports American jobs. The
Ex-Im bank claims it
posted a $1 billion profit in FY2013 and supports
255,000 American jobs.
However, new evidence undermines both these claims. As
part of the 2012 Export-Import Bank Reauthorization Act, Congress directed the
Government Accountability Office to review the Export-Import Bank’s method for
calculating its impact on employment. The Bank feeds the value of the exports
by industry into input-output tables published by the Bureau of Labor
Statistics (BLS) to calculate the total number of jobs it supports. As the GAO’s report notes,
there are several limitations of to this methodology:….To Read More…..
No comments:
Post a Comment