Dec 02, 2015

We Will Continue Rooting Out Corporate Welfare

Post by Derek Yale

Arlington, VA — After months of back and forth, the once-dead Export-Import Bank is expected to be renewed for at least four years as part of the unrelated highway bill. The legislation will allow the federal government to use the bank to give up to $135 billion taxpayer dollars to corporate welfare beneficiaries.

The Ex-Im Bank is a New Deal-era program that lapsed for the first time on June 30, 2015, when Congress failed to reauthorize its funding. Despite claims from the bank’s largest beneficiaries that its expiration would crush the economy, the actual impact was indiscernible.

Freedom Partners President Marc Short issued the following statement:

“The lapse of Ex-Im this year was the result of determined opposition to a small but important example of corporate welfare in our government. Many Washington lawmakers campaign on fiscal responsibility, but what they vote for once elected often paints a different picture about what they really value. We’ll continue fighting to protect hardworking Americans by rooting out corporate welfare and opposing taxpayer handouts for corporations.”