Garbage can full of money tipped on its side with money spilling out

AFP Issues Sharp Rebuke of Funding for Corporate Welfare Agency Included in FAA Reauthorization

Oct 3, 2018 by AFP

ARLINGTON, Va. – Today, the Senate approved Federal Aviation Authority (FAA) reauthorization legislation that includes twice the amount of funding for an unrelated corporate welfare agency that takes American tax dollars and uses them to subsidize development projects in other countries.  The foreign infrastructure spending measure woven in today’s must-pass legislation funds an agency known as the Overseas Private Investment Corporation (OPIC), and folds OPIC into a new agency, the U.S. International Development Finance Corporation (DFC).

This comes as the Treasury Department reports that out-of-control federal spending added $1.2 trillion to the national debt in fiscal year 2018, just days after Congress passed—and the President signed—another reckless spending bill that puts Congress on pace to increase discretionary spending another 3% and counting.

AFP Chief Government Affairs Officer Brent Gardner issued the following statement:

“In typical Washington fashion, Congress will hide behind must-pass legislation to approve sending billions of taxpayer dollars overseas. Just like the Export-Import Bank, the DFC epitomizes corporate welfare with all the wrong strings attached, like automatic funding increases and a structure that undermines Congressional oversight. This agency shouldn’t even exist, let alone have its funding doubled. Is there any wonder why we’re trillions of dollars in debt?”

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