The purpose of this legislation, known as the "Strengthening Exports Against China Act," is to modify the Export-Import Bank Act of 1945. The main goal is to change how certain financing is counted when determining the default rate, which affects when the Export-Import Bank's lending cap applies. This change is aimed at enhancing the competitiveness of U.S. exports, particularly against Chinese products and services. Key provisions of the legislation include a specific amendment to the calculation of the default rate.