Apr 12, 2018

Freedom Partners Statement: Export-Import Bank Revival a Bad Idea

Post by Freedom Partners

Arlington, VA – Freedom Partners Executive Vice President Nathan Nascimento issued the following statement today in response to recent comments by Treasury Secretary Steven Mnuchin that “the president is very interested in reopening the Export-Import Bank” as a “fully functioning” entity:

“The Export-Import Bank is corporate welfare, plain and simple. Using taxpayers’ dollars to prop up some of the largest companies in the world doesn’t lead to more jobs or a level playing field, it cripples competition in order to protect big business.

“While there’s never a good time to use taxpayer dollars to support a few favored interests, it would be particularly tone-deaf for lawmakers to revive the Ex-Im Bank in the wake of widespread outrage over the $1.3 trillion spending bill that was just enacted. A better course of action is for Congress and the administration to disband the agency altogether and pursue a rescission package to mitigate some of the damage from the spending bill’s most egregious provisions.”

Freedom Partners has led a campaign in opposition to the Export Import Bank as a form of corporate welfare that undermined U.S. competitiveness and jobs.