Loan Guarantees

Every day the federal government offers certain companies—and in some cases foreign companies—favorable loan terms, such as below-market interest rates. Politicians claim the loans create jobs or boost American businesses and exports.

But these benefits typically go to politically favored companies. This puts hardworking taxpayers on the hook for a private company’s profits.

When the loans work out, private companies reap the rewards. If the loans go bust, taxpayers pick up the tab. The now infamous energy firm Solyndra received $535 million in loan guarantees from the U.S. Department of Energy in 2009. Two years later, the firm filed for bankruptcy, leaving taxpayers on the hook.

And like countless other examples of corporate welfare, Solyndra had deep political ties that ran all the way to the White House.

Such loan guarantee programs operate through the Export-Import Bank, the Department of Energy and the Department of Agriculture among many others. By one measure, American taxpayers are on the hook for $3 trillion in private loans.

Wherever these special loans exist for private companies, they expose taxpayers to billions of dollars of risk in order to benefit special interests. All of them should be eliminated.

Apr 19, 2016

Freedom Partners Thanks Senator Shelby for Standing Against Corporate Welfare at the Ex-Im Bank

Arlington, VA — This week, Freedom Partners Chamber of Commerce sent a letter to U.S. Senator Richard Shelby thanking him for his continued stand against corporate welfare at the Export-Import Bank…

Read More

Mar 23, 2016

Congress Must Reject Using Aviation Bill to Pass Special Interest Tax Carve Outs

Election years are known in Washington for little legislating and lots of campaigning. As a result, there can be limited opportunities for lobbyists to get their favored projects and handouts passed into…

Read More

Mar 09, 2016

Bernie Sanders is Right About the Ex-Im Bank

It’s not everyday that Freedom Partners agrees with Democratic presidential candidate Bernie Sanders, but when it comes to the corporate-welfare driven Export-Import Bank, Senator Sanders is right. “Seventy-five…

Read More

Mar 09, 2016

Freedom Partners Releases New Video Highlighting Sanders, Corporate Welfare

Arlington, VA — Ahead of tonight’s Democratic debate, Freedom Partners is releasing a new video, “Across The Board,” which highlights Bernie Sanders’ recent comments regarding the corporate welfare-driven Export-Import Bank…

Read More