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Ex-Im Bank financing ban for seriously delinquent tax debtors

New rules aim to prevent the Export-Import Bank of the United States from providing financial support to individuals or projects with serious tax debts. This means that companies and individuals with significant tax arrears will not be able to receive assistance from this bank, unless the U.S. President decides otherwise under exceptional circumstances. The goal is to ensure that taxpayer money does not support those who fail to pay their own obligations.
Key points
The Export-Import Bank will be prohibited from financing individuals or projects with seriously delinquent tax debt.
Seriously delinquent tax debt refers to unpaid federal tax liabilities that can be collected by the IRS.
The U.S. President can waive this prohibition in urgent circumstances significantly affecting U.S. interests, with a report to Congress.
The rules do not apply to tax debts being paid under an agreement, those under dispute, or those subject to certain relief.
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Additional Information
Print number: 117_S_474
Sponsor: Sen. Braun, Mike [R-IN]
Process start date: 2021-02-25
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

A bill to prohibit the Export-Import Bank of the United States from providing financing to persons with seriously delinquent tax debt.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_474.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-02-25.

What are the main provisions?

Key points include:

  • The Export-Import Bank will be prohibited from financing individuals or projects with seriously delinquent tax debt.
  • Seriously delinquent tax debt refers to unpaid federal tax liabilities that can be collected by the IRS.
  • The U.S. President can waive this prohibition in urgent circumstances significantly affecting U.S. interests, with a report to Congress.
  • The rules do not apply to tax debts being paid under an agreement, those under dispute, or those subject to certain relief.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Braun, Mike [R-IN].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Taxes Economy Public Investments