Tell our Congressman Austin Scott to vote NO on the Continuing Resolution (CR) that includes Export-Import Bank extension. Do it now because the lobbyists are hard at work against us to get the Ex-Im Bank included in the CR. Tell him the Export-Import Bank is the 80-year-old poster child for Cronyism – let it die!
The Ex-Im Bank law is set to expire this year, with winding-down provisions already written into the law. But guess who is pushing our congressmen to vote to extend the taxpayer abuse – the Chamber of Commerce (Cronyism’s Champion).
“Bloomberg News reports that House Rules Committee Chairman Pete Sessions said that House Republican leaders will ask House Republicans to attach an extension for the Export-Import Bank’s charter ‘to stopgap spending legislation.’ Bloomberg notes that the U.S. Chamber of Commerce is among groups that have been pushing for the re-authorization of the bank’s charter.”
Our job is to get enough Republicans to vote NO on the CR to send a message to the Republican “leadership.” The disturbing fact that they are using a CR to fund the government only until mid-December, when it will be voted on again by a lame-duck Congress, should stir all of us to action. If you’ve read the recent book “Extortion: How Politicians Extract Your Money, Buy Votes, and Line Their Own Pockets”, you’ll understand why they want to extend the final appropriations bill vote to the last minute to allow politicians to extract campaign donations tollbooth-style from lobbyists begging for special favors.
You can use this handy link to contact our congressman on Heritage Action, and find more talking points on the Export-Import Bank.
Mark your calendars now for our upcoming Valdosta Tea Party meeting at the Holiday Inn on October 30th. Heritage Action for America will present a 3-hour skills clinic and free pizza party. Come hone your activist skills for the long march back to constitutionally limited government. Call your Congressman now:
Congressman Austin Scott
202-225-6531; Fax: 202-225-3013
Chief of Staff: email@example.com
Tifton Office Alice.Johnson@mail.house.gov and firstname.lastname@example.org
229-396-5175; Fax: 229-396-5179
Warner Robins office: 478-971-1776; Fax: 478-971-1778
Find Out Who's Defending Washington Cronyism
Following the money trail of the Export-Import Bank shows taxpayers are on the hook for loans to some interesting places. China, Russia, and Venezuela just to name a few.
>> See the money trail.
The Ex-Im Bank subsidizes these foreign countries to buy the goods of large American corporations and special-interests. It can even reward an aggressive foreign nation, such as Russia, which is the target of potential U.S. sanctions.
by Katie Nielsen
This September, Congress will have the opportunity to terminate a federal “bank” that doles out loans to foreign countries and well-connected major corporations while leaving taxpayers like you are on the hook for any losses.
Heritage Foundation expert Diane Katz explains that the costs of the Depression-era Ex-Im Bank outweigh the benefits:
Ex–Im advocates offer myriad excuses for maintaining government interference in export financing, including job creation, gaps in private investment, and government subsidies lavished on foreign firms. Such justifications do not stand up to the facts, and the purported benefits, if any, are not commensurate with the risk to taxpayers.
Unfortunately, Katz continues, special interests benefit from its largesse. “The bank is a conduit for corporate welfare beset by unreliable risk management, inefficiency, and cronyism.” Even then-candidate Barack Obama described it in 2008 as “little more than a fund for corporate welfare.”
This type of government interference inevitably “distorts the competitive landscape, with winners and losers determined by political considerations rather than the merit of their products and services,” Katz argues.
Do you think the Ex-Im Bank’s charter should be terminated?
The U.S. government is preparing to transfer the oversight it has had over the Internet -- oversight that has helped keep the Internet open and free -- to the United Nations.
Some countries, like Russia and China, are eager for the United Nations to take over the oversight role. That’s because they favor censorship and other limitations on online speech and commerce.
Heritage legal expert Paul Rosenzweig said in testimony before a House committee last week that lawmakers should be cautious “lest the transition destroy the openness and freedom of the network.”
Watch this video from the Foundry for a primer on the topic, then tell us in the comments: do you think the “international community” should play a role in overseeing the Internet?
Ex-Im Bank: Deferring Risk to American Taxpayers
"We help small businesses." It's a common phrase used by Washington bureaucrats and politicians. But if they knew how the economy actually worked, the bureaucrats and politicians would understand free markets, not New Deal-era manipulation, are what helps small businesses grow.
>> See how the Ex-Im Bank disrupts the free-market.
While the Export-Import Bank tries to present itself as a champion for small business it really enables big business to defer risk to American taxpayers.
The most prominent beneficiaries of Ex-Im’s subsidies are not small business.
>> Find out which "monster corporations" receive subsidies from Ex-Im.
It’s time the Export-Import Bank stopped acting as an engine for corporate welfare.