Sep 16, 2016

Preventing Corporate Welfare at Ex-Im Bank

Post by Freedom Partners

Freedom Partners and more than 30 other organizations sent a letter to Senate Majority Leader Mitch McConnell and House Speaker Paul Ryan that urges the lawmakers to oppose efforts to change Export-Import Bank requirements for approving high-dollar financing.

The Ex-Im Bank currently has just two of the three board members necessary to approve financing deals greater than $10 million. U.S. Sen. Richard Shelby has blocked the confirmation of a third board member, so bank supporters are attempting to change the bank’s quorum requirements by attaching legislative language to a must-pass spending bill.

Congress is currently considering a short-term spending bill – known as a continuing resolution – that would avoid a government shutdown fund the government until early December. To date, efforts to keep an Ex-Im quorum change out of the continuing resolution have been successful, although a final bill has not been passed and signed into law.

If a short-term funding bill enacted, Congress would return to Washington after the election to enact a bill that funds the government through fiscal year 2017. This long-term spending bill will provide Ex-Im supporters another opportunity to change the bank’s quorum requirements.

Freedom Partners will continue to oppose any efforts that expand corporate welfare through the Export-Import Bank.

Below is the full text of Ex-Im letter:

September 16, 2016

Dear Senate Majority Leader McConnell and House Speaker Ryan:

On behalf of our groups and organizations, together representing millions of Americans, we urge you to oppose efforts to ease the quorum requirement for the Export Import Bank on upcoming spending legislation.

We have significant concerns on the procedure. Attaching this quorum change to a continuing resolution is the latest in a line of efforts that subvert Congressional processes. This provision would subvert the Senate approval process for board members of the Export-Import Bank and set a concerning precedent for future accountability.

We also have concerns on the merits of the policy. This provision would allow the bank to make larger loans with even less oversight–and it would be attached to unrelated legislation providing funds for the government after September 30. This would make it easier for the agency to make risky, taxpayer-backed loans to big businesses and foreign corporations.

American taxpayers and small businesses deserve better than this. We encourage you to oppose efforts to attach a provision to ease the quorum requirement for the Export Import Bank on upcoming spending legislation.

Sincerely,

Brent Gardner, Vice President of Government Affairs
Americans for Prosperity

Mark Holden, Chairman
Freedom Partners Chamber of Commerce

Michael A. Needham, CEO
Heritage Action for America

Jim Martin, Chairman
60 Plus Association

Melissa Ortiz, Founder & Principal
Able Americans

Phil Kerpen, President
American Commitment

Thomas J. Pyle, President
American Energy Alliance

Coley Jackson, President
Americans for Competitive Enterprise

Peter J. Thomas, Chairman
Americans for Constitutional Liberty

Norm Singleton, President
Campaign For Liberty

Andrew F. Quinlan, President
Center for Freedom and Prosperity

Jeffrey Mazzella, President
Center for Individual Freedom

Jim Backlin, Vice President for Legislative Affairs
Christian Coalition for America

David McIntosh , President
Club for Growth

Michael J. Bowen, CEO
Coalition For a Strong America

Stephani Scruggs, COO
Coalition For a Strong America

Iain Murray, Vice President for Strategy
Competitive Enterprise Institute

Dan Caldwell, Vice President for Legislative and Political Action
Concerned Veterans for America

Tom Schatz, President
Council for Citizens Against Government Waste

Adam Brandon, President and CEO
FreedomWorks

Andrew Clark, President
Generation Opportunity

Andresen Blom, Executive Director
Grassroot Hawaii Action, Inc.

Carrie Lukas, Managing Director
Independent Women’s Forum

Heather Higgens, President and CEO
Independent Women’s Voice

Andrew Langer, President
Institute for Liberty

Seton Motley, President
Less Government

Mat Staver, Esq., Founder and Chairman
Liberty Counsel

Amy Ridenour, Chairman
National Center for Public Policy Research

Willes K. Lee, President
National Federation of Republican Assemblies

Pete Sepp, President
National Taxpayers Union

Andrew Moylan, Executive Director and Senior Fellow
R Street Institute

William Whipple III, President
Secure America’s Future Economy

Stephen Ellis, Vice President
Taxpayers for Common Sense

David Williams, President
Taxpayers Protection Alliance

Judson Phillips, Founder
Tea Party Nation

Daniel Garza, Executive Director
The LIBRE Initiative

Carl Bearden, Executive Director
United for Missouri