The Senate passed the reauthorization of the Export-Import Bank that increases American taxpayer exposure to default on government backed loans by 40% over the next three years. In recent years, this Depression-era program designed to increase American trade has grown into a bloated $100 billion bureaucracy that has concentrated on giving foreign airlines discounted loan rates to purchase American planes. ACU opposes programs that pick winners and losers in the marketplace and make it harder for some American companies to compete and opposed this bill. The bill passed the Senate on May 15, 2012 by a vote of 78-20.