President Franklin Delano Roosevelt established the Export-Import Bank in 1934 in an effort to encourage American exports. Now, the House of Representatives is trying to keep this 85-year old relic alive for another 10 years, expand its lending capacity, and weaken its already inadequate oversight.

The Ex-Im Bank is an independent agency that provides taxpayer-backed direct loans, guarantees, and export credit insurance to private firms and foreign governments in the hope that they’ll purchase American goods. Ex-Im has a statutory lending authority of $135 billion, and the money often subsidizes large and profitable companies that would have no problem obtaining financing from the commercial banking system.