Congress finds the following:
(1)
Exporting goods and services is a critical part of the United States economy. A recent study by the International Trade Administration recently found that 11.6 million jobs across the country are directly supported by exports.
(2)
Though United States exports have increased by one-third since 2010 and contributed to roughly one-third of all domestic economic growth, increases in exports have failed to meet lofty goals established by the Administration.
(3)
An important part of helping small- and mid-size businesses begin to export or to access new markets is export assistance provided by the Federal Government.
(4)
Numerous resources for companies exist at Federal agencies, including in the Department of Commerce, the Department of Agriculture, the Small Business Administration, the Department of State, the Export-Import Bank of the United States, the Overseas Private Investment Corporation, and others.
(5)
These Federal agencies offer programs to provide technical and cultural assistance, low-cost financing, and the development of future export markets overseas.
(6)
While these Federal agencies and the programs they operate provide important assistance to United States companies, there is significant overlap among agencies that fails to maximize Federal resources and creates confusion for businesses seeking to navigate the bureaucracy.
(7)
This confusion leads to less effective export promotion, wasted government resources, and an inability to track the success of Federal efforts.
(8)
Specifically, the U.S. Government Accountability Office has found that enhanced collaboration among these efforts could improve Federal agency efforts, reduce overlap, and ease confusion for small businesses.
(9)
Intra-agency efforts have fallen short in providing greater cohesion and communication among Federal export programs.
(10)
The U.S. Government Accountability Office found significant shortcomings at the Trade Promotion Coordination Committee, including a lack of information about total export promotion resources, ineffectiveness in tracking data and outcomes, and a failure to coordinate export promotion resources with governmentwide policies.
(11)
Given the shortcoming of Federal export assistance, significant change is necessary to ensure the United States maintains its global economic competitiveness while small businesses can grow their businesses and create more jobs.
(12)
By consolidating the functions of multiple Federal agencies, including the International Trade Administration, the Office of International Trade of the Small Business Administration, the Trade and Development Agency, the Export Credit Guarantee Program and Facilities Guarantee Program of the Department of Agriculture, and the Bureau of Economic and Business Affairs of the Department of State, into the new Export Promotion Agency in the Department of Commerce, small- and mid-size businesses will be able to utilize a one-stop-shop for export assistance.
(13)
These reforms will reduce waste and overlap to maximize Federal resources, improve businesses’ access to information and assistance by cutting bureaucracy, and allow the Department of Commerce to better track and report to Congress on the effectiveness of its export programs.
(14)
Additionally, including the Trade and Development Agency and the Bureau of Economic and Business Affairs of the Department of State as part of the new agency will strengthen their coordination with traditional export assistance to ensure that United States companies are able to take advantage of new emerging markets overseas.