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Americans Shouldn’t Be Asked To Subsidize China’s Economy

Apr 12, 2018 by AFP

Arlington, VA – Americans for Prosperity Chief Government Affairs Officer Brent Gardner issued the following statement in response to remarks by Treasury Secretary 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 at its worst. This is an entity that uses billions in U.S. tax dollars to undermine American companies, line the pockets of massive corporations, and prop up foreign competitors. American taxpayers shouldn’t be asked to subsidize China’s economy. The White House should be looking for ways to shut this bank down, not open it back up.”

From 10/1/06 Through 9/30/17, The Export-Import Bank Authorized $6,825,408,491 In Support For Deals Involving China. (“Authorizations From 10/01/2006 Thru 09/30/2017,” Export-Import Bank Of The United States, 1/25/18)

At The End Of Fiscal Year 2017, The Export-Import Bank Had $4.5287 Billion In Exposure To The Chinese Market. (“2017 Annual Report,” Export-Import Bank Of The United States, 2/6/18)

From 10/1/06 Through 9/30/17, The Export-Import Bank Authorized $432,398,434 In Support For Deals In Which The Export-Import Bank Of China Was The Primary Borrower. (“Authorizations From 10/01/2006 Thru 09/30/2017,” Export-Import Bank Of The United States, 1/25/18)

For further information or to set up an interview, please send an email to media@afphq.org.

Americans for Prosperity (AFP) exists to recruit, educate, and mobilize citizens in support of the policies and goals of a free society at the local, state, and federal level, helping every American live their dream – especially the least fortunate. AFP has more than 3.2 million activists across the nation, a local infrastructure that includes 36 state chapters, and has received financial support from more than 100,000 Americans in all 50 states. For more information, visit www.AmericansForProsperity.org

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