Arlington, Va. – Today Americans for Prosperity and a broad coalition of organizations held a press conference announcing significant efforts to stop reauthorization of the Export-Import Bank by Congress, calling it poorly-managed corporate welfare.
AFP President Tim Phillips said: “The Export-Import Bank gives certain well-connected corporations an unfair advantage, while exposing taxpayers to potentially massive losses. This is the wrong way for government to do business.”
Americans for Tax Reform Cost of Government Center Executive Director Mattie Duppler said: “The Export-Import Bank is a slush fund for political favors and a hugely distorting force within marketplace. This is an attempt to fight cronyism in other countries with our own.”
Taxpayer Protection Alliance President David Williams said: “The Export-Import Bank is the poster child for corporate welfare and crony capitalism. Jobs are at stake when the market is tossed aside for government to pick winners and losers. Eliminating the Export-Import Bank is what people outside the Beltway call a no-brainer.”
National Taxpayers Union Federal Affairs Manager Nan Swift said: “Proponents like to claim that the Export-Import Bank levels the playing field, but taxpayers should question whether gigantic companies need Washington to level the playing field. Do these global brands really need a leg up?”
Americans for Prosperity will be educating its 2.3 million activists across the country about the Export-Import Bank and urging them to put pressure on their legislators to let Ex-Im expire on schedule in September.
For more information about the Export-Import Bank, visit our “Need to Know” page HERE.
For more information about the coalition opposing Ex-Im reauthorization, read the coalition letter HERE.