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AFP Launches Accountability Effort Targeting Rep. McBath’s Ex-Im Vote

Dec 6, 2019 by AFP

AFP Launches Accountability Effort Targeting Rep. McBath’s Ex-Im Vote

ATLANTA, GA – Americans for Prosperity-Georgia (AFP-GA) today announced it is holding Rep. Lucy McBath accountable for reauthorizing the controversial Export-Import (Ex-Im) Bank. This accountability campaign is part of a six-figure direct mail, digital, and newspaper advertising effort targeting 15 lawmakers in Washington. AFP has consistently opposed the reauthorization of Ex-Im, citing the bank’s history of corruption and fiscal mismanagement that rigs the economy in favor of a few well-connected companies.

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AFP-GA State Director Stephen Allison issued the following statement:

“The Export-Import Bank serves politically connected companies and wealthy foreign state-owned firms by providing risky, taxpayer-backed loans. By supporting its reauthorization, Rep. Lucy McBath voted to give away billions of your tax dollars to big business and special interests, at the expense of Georgia taxpayers. Our activists urge Rep. McBath to support policies that will unrig the economy and level the playing field for all Georgians.”

AFP’s Ex-Im accountability campaign will also target Representatives McAdams (UT), Horn (OK), Cunningham (SC), S. Murphy (FL), Axne (IA), Finkenauer (IA), Davids (KS), Casten (IL), Kinzinger (IL), Wagner (MO), Luetkemeyer (MO), Graves (MO), Long (MO), and Fitzpatrick (PA) for voting “yes” on H.R. 4863, a bill to reauthorize the Ex-Im Bank. Read AFP’s key vote letter to lawmakers here.

Background:

Ex-Im has proven to have fallen short of its goals for job creation, export promotion, small business growth, and increasing US competitiveness abroad.

The Heritage Foundation found that from 2009 to 2014 there were 74 cases of fraud allegations.

Ex-Im uses Federal Credit Reporting Act standards to justify its lending, arguing that it would save $14 billion from 2015-2024. But that is not an accurate representation of the bank’s finances.

The Congressional Budget Office estimates that, if Ex-Im were to use fair-value accounting principles — which are used by most of the government and most of the private sector — the bank would cost taxpayers about $2 billion over that same period.

Our economy doesn’t need the Export-Import Bank.

Earlier this year, AFP unleashed its multiyear “Unrig the Economy” campaign to end government favoritism and has sent more than 35,000 letters to Congress urging lawmakers to vote NO on the failed agency’s extension.

Read more about AFP’s multi-year, multimillion-dollar effort to “Unrig the Economy” here.

For further information or an interview, reach Nicole Tardif at NTardif@afphq.org or (571) 329-0161.