Don’t Ex-Tend Ex-Im
In Forbes online today, Doug Bandow lays out the case for why Congress should refuse to renew the Export-Import Bank when its authorization expires later this year:
Nothing brings out the well-tailored lobbyists in Washington quite like a threat to corporate welfare. With the Export-Import Bank’s legal authorization set to run out this year, the Chamber of Commerce recently led a Big Business march on Capitol Hill to protect what is known as Boeing’s Bank. Over the last eight decades ExIm has provided over a half trillion dollars in credit, mostly to corporate titans. Congress should close the Bank.
If you’re unsure why shuttering Ex-Im matters, or even what it is, check out his full piece here. You can also read a classic 2002 statement from C4L Chairman and then-Congressman Ron Paul on why Ex-Im should be closed here.