May 08, 2019

Freedom Partners and AFP Oppose Ex-Im Quorum, Call for Bank’s Closure

Post by Freedom Partners

ARLINGTON, Va. –  Freedom Partners Chamber of Commerce and Americans for Prosperity urged Congress today to close the Export-Import Bank following a Senate vote to revive the agency by confirming the Trump administration’s nominees. The organizations have long advocated for the closure of the Bank, which gives cash to the most well-connected companies, and will urge lawmakers to oppose the agency’s reauthorization in September.

AFP Chief Government Affairs Officer Brent Gardner issued the following statement: 

“It’s not the role of government to pick winners and losers. Giving the Ex-Im Bank a quorum is essentially a license to go back to operating like a taxpayer-backed publishers clearing house for the most well-connected companies. This bank’s sole purpose is to rig the system. Congress should work to stop the flow of corporate welfare, not increase it. The Ex-Im Bank doesn’t need a quorum, it needs to be closed.”

Freedom Partners Executive Vice President Nathan Nascimento issued the following statement:

“When companies compete on their merits, innovation thrives and consumers win. Congress should stand up for taxpayers – not bow down to cronyism by reviving the Ex-Im Bank. Without the bank, industries have moved on to other financing and the U.S. economy continues to hum along. The last thing lawmakers need to do is reauthorize this embodiment of corporate welfare.”