Eliminate the Federal Import Export Bank

We don't need the Export Import Bank. It's another manifestation of big federal government. In spite of a claim to the contrary, it competes with private banking, by offering better conditions to lenders at the expense of the taxpayer. Its charter was renewed in September for six months. We need to let it expire now.
Wikipedia has a nice write-up on the Export Import Bank.
The Export-Import Bank of the United States is the official export credit agency of the United States federal government . It was established in 1934 by a Franklin D Roosevelt executive order, and made an independent agency in the Executive branch by Congress in 1945, for the purposes of financing and insuring foreign purchases of United States goods for customers unable or unwilling to accept credit risk.
The Bank's first transaction was a $3.8 million loan to Cuba in 1935 for the purchase of U.S. silver ingots. Note that Cuba got the ingots, and we put up the money so that they could buy them. Nothing is said about whether we got the money back.
The Bank made various loans to Mexico, Central American and South American countries for the construction of the Pan-American highway. Nothing is said about whether we got the money back. While I am not generally opposed to infrastructure development, we might note that the Pan-American highway is now used to assist immigrant kids entering our southern border illegally. In the construction of the Pan-American highway, the Bank approved twenty credits to U.S. companies including Caterpillar, Koehring Co., Allis-Chalmers Manufacturing, The Galion Iron Works, and Thew Shovel to help build the highway. I'm not sure what that's about, but it appears that the Bank guaranteed those companies against loss as they sent equipment to the foreign project. The risk was the taxpayers'.
The rebuilding of Europe after World War II involved the Mashall Plan and the Bank. The Marshall plan basically involved a philosophy that everything that the US had destroyed in its bombing raids and other military activities would be rebuilt at no cost to the individual countries involved.
During that time, the Bank increased lending authority from $750 million to
$3.5 billion. How much of the total cost of rebuilding went to the US taxpayers through the Bank is conjectural.
In 1945 and 1946 credit was offered to France, Denmark, Norway, Belgium, the Netherlands, Turkey, Czechoslovakia, Finland, Italy, Ethiopia, Greece, Poland and Austria to purchase equipment, facilities, and services from the United States. The financing was designed to aid reconstruction of the nations and to repair their import and export capability through the purchase of new machinery, currency exchange, and improvements and repairs to infrastructure and transportation systems. Note that the bank gave any recipients money to improve their infrastructure and transportation at taxpayer risk. How much of any of these loans was repaid is not said.
The October 30 issue of C&E News said that Rep. Jeb Hensarling of Texas, who is Chairman of the House Financial Services Committee, is leading the drive to end the Bank. He and his associates argue that a government program that helps companies export products overseas distorts the free market. I agree. If a foreign buyer wants to buy American goods, and he does not have the money, he can obtain it from his own foreign banking facilities and/or get delayed payments from the American supplier. The latter should be a judgment of the American supplier and not look to the American taxpayers through the Bank for a guarantee.