This commentary was originally published in The Hill on June 16, 2015. 

With the charter of the Export-Import Bank of the United States set to expire June 30, its supporters claim its demise would result in the loss of jobs, harm to the economy, and damage to U.S. competitiveness overseas. The truth, however, is that eliminating the billions of dollars of subsidies provided by the bank would greatly benefit U.S. workers and our economy.

Export-Import Bank supporters point to businesses like San Antonio’s Ferra Coffee International to support its continuation. In testimony before Congress, its CEO said that the bank’s Small Business Multi-Buyer Credit Insurance, which guarantees payment of 95 percent of the company’s overseas accounts receivable, has allowed it to pay foreign coffee growers fairly, helping to “prevent families from being broken apart.”

In addition to providing this subsidized insurance, the bank has also benefitted the company by “checking that the distributors with whom we establish relationships and make contracts are legitimate, and that we do not get involved with dubious, unreliable or criminal groups while conducting International Trade business.”

Continue reading on The Hill.