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AFP: House Should Oppose Reauthorization of Export-Import Bank

Nov 14, 2019 by AFP

Arlington, Va.—  On Friday, the U.S. House of Representatives will vote on H.R. 4863, the Export Finance Agency Act of 2019. This bill would reauthorize the Export-Import (Ex-Im) Bank for ten years, forcing American taxpayers to continue financing some of the world’s most successful companies at the expense of critical national priorities. Americans for Prosperity (AFP) has consistently opposed the reauthorization of the Export-Import Bank, sending more than 35,000 letters to lawmakers this Fall.

AFP Vice President of Economic Opportunity Russ Latino issued the following statement:

“The average American isn’t better off because of the Export-Import Bank. Congressional leaders who decry wasteful spending and Washington’s culture of corruption should put their money where their mouths are, and shutter Ex-Im once and for all. House members should vote to oppose the extension of Ex-Im because it perpetuates the culture of cronyism that puts special interests ahead of hardworking Americans. And next week, the Senate should ensure that Ex-Im isn’t just kicked down the road by tacking it onto another stop-gap funding bill. Lawmakers should take a principled stand against corporate welfare and pull the plug on this scandal-plagued bank.”


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