Abstract: We conjecture that the proper-time series expansion of the one-loop effective Lagrangian of quantum electrodynamics can be summed in all terms containing the field-strength invariants F = 1/4F F-mu nu(mu nu) (x), G = 1/4 (F) over tilde F-mu nu(mu nu) (x), including those also possessing derivatives of the electromagnetic field strength. This partial resummation is exactly encapsulated in a factor with the same form as the Heisenberg-Euler Lagrangian density, except that now the electric and magnetic fields can depend arbitrarily on spacetime coordinates. We provide strong evidence for this conjecture, which is proved to sixth order in the proper time. Furthermore, and as a byproduct, we generate some solvable electromagnetic backgrounds. We also discuss the implications for a generalization of the Schwinger formula for pair production induced by nonconstant electric fields. Finally, we briefly outline the extension of these results in the presence of gravity.