The Export-Import Bank interferes with the economy by providing loans to politically-connected foreign companies. This is exactly the kind of government meddling in the economy that free-market advocates should reject! Not only does the Export-Import bank interfere with the free market, it also jeopardizes billions of taxpayer dollars. According to the Congressional Budget Office, the bank relies on obsolete accounting methods that significantly overstate its profits.
America deserves an international trade policy that is based on free-market mechanisms, not paying foreign companies to buy exports from large corporations with political connections. The Export-Import Bank gives away millions in taxpayer-funded loans across the world while the U.S. economy stumbles. Congress should end this wasteful spending program.