Rep. Joe Cunningham Votes for Corporate Welfare

Dec 5, 2019 by AFP

AFP Launches Accountability Ad Campaign Targeting Ex-Im, Corporate Welfare Votes

CHARLESTON, SC – Americans for Prosperity-South Carolina today announced it is holding Rep. Joe Cunningham accountable for reauthorizing the controversial Export-Import (Ex-Im) Bank. The accountability campaign is part of a six-figure direct mail, digital, and newspaper advertising effort. AFP has consistently opposed the reauthorization of Ex-Im, citing the bank’s history of corruption and fiscal mismanagement that rigs the economy in favor of a few well-connected companies.

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“Sending billions of taxpayer dollars to a cronyist scheme benefits China and large businesses at the expense of everyone else. Instead of supporting corporate welfare policies that limit economic growth and opportunity, Rep. Joe Cunningham should help level the playing field for all businesses,” said Andrew Yates, AFP-SC State Director. “We’re holding Rep. Cunningham accountable and letting his constituents know that he favors giving our taxpayer dollars away to big business and special interests. We urge Rep. Cunningham to unrig our economy and end his support for the poster child of corporate welfare.”

AFP’s Ex-Im accountability campaign will also target Representatives McAdams (UT), Horn (OK), McBath (GA), S. Murphy (FL), Axne (IA), Finkenauer (IA), Davids (KS), Casten (IL), Kinzinger (IL), Wagner (MO), Luetkemeyer (MO), Graves (MO), Long (MO), and Fitzpatrick (PA) for voting “yes” on H.R. 4863, a bill to reauthorize the Ex-Im Bank. Read AFP’s key vote letter to lawmakers here.

Background:

A recent report by AFP found EX-IM has achieved virtually none of the Bank’s supposed objectives of job creation, export promotion, small business growth, and increasing US competitiveness abroad.

Although Boeing is a major recipient of Ex-Im aid, receiving 34% of all funds from 2007 through 2017, Boeing experienced billions of dollars in backlogged deals and consistently high revenue leading to a record setting year in 2018. This came at a time when the Ex-Im bank had lost its quorum, which resulted in the prohibition of financial aid over $10 million.

Making matters worse, AFP recently was forced to file a lawsuit against Ex-Im due to its refusal to respond to Freedom of Information Act requests regarding its compliance to minimize the need “to reach international agreements to reduce government subsidized export financing.”

Earlier this year, AFP announced the launch of “Unrig the Economy”, a multiyear, multimillion dollar effort to end government favoritism and corporate welfare. So far, the campaign has enabled more than 35,000 Americans to send letters to Congress urging lawmakers to vote NO on the failed Ex-Im’s extension.