AFP Applauds McCarthy on Ex-Im Bank; Urges House to Oppose Re-Authorization

June 24, 2014

Arlington, Va. — Americans for Prosperity, the nation’s foremost grassroots advocate for economic freedom, is applauding incoming House Majority Leader Kevin McCarthy for his position on the Export-Import Bank, and urging his House colleagues to join him in opposing reauthorization. The group is leading a broad coalition of organizations, representing millions of Americans, in calling on Congress to let the bank expire.

“I’m pleased that Rep. McCarthy understands the downsides of government intruding in our exports market,” said AFP President Tim Phillips. “The Export-Import Bank mostly benefits large, well-connected corporations at taxpayer expense, and nonpartisan investigators have found the Bank’s outdated accounting practices disguise the fact that it’s losing billions of taxpayer dollars. It’s the wrong way for government to do business.

“We see widespread support at the grassroots level and among conservative organizations for letting the Bank expire this summer, and we’re hopeful Congress will follow McCarthy’s lead.”

AFP activists across the country are signing the petition at Break-the-Bank.org to support letting the bank expire, and the group has also released a short video explaining the problems with the bank’s activities. Click here to view the video. 

McCarthy appeared on Fox News Sunday this weekend, saying the bank does “things that the private sector can do,” and that he would let it expire. He sits on the House Financial Services Committee, which will hold a hearing this Thursday regarding the bank’s future.

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