House Republicans Not Planning to Address Export-Import Bank Reauthorization

By | August 12, 2014

  • August 12, 2014 at 1:20 pm
    Dave says:
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    This is one form of corporate welfare that needs to go away. Why should we tax-payers support or subsidize a loan that a company makes to an overseas bad credit risk?

  • August 12, 2014 at 1:29 pm
    JACK says:
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    Solyndra anyone????? GM anyone??? AIG anyone…wait a min they paid it back with billions in interest. Nothing to see here…move along.

  • August 12, 2014 at 2:56 pm
    Doc says:
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    Before jumping on the anti-Obama bandwagon and going political on this, why don’t we all take a look at the facts regarding EX-IM Bank including the thousands of US businesses (small to large public companies) this organization supports. These US businesses would not have the export opportunities, including top line revenue and bottom line profit from these exports, without the thoughtful support of EX-IM bank.

    EX-IM Bank essentially supports the exports of good US business via carefully underwritten insurance products. EX-IM Bank has largely operated in the black (yes, a profit for US Treasury) due to the careful underwriting of its products. This means that it differs substantially from GM and AIG bankruptcy programs cited earlier in that this is not a tax payer funded organization. Further, EX-IM looks to US agents and brokers to deliver their products. Supporting EX-IM Bank is not a political matter but rather is something makes for good economic policy with US businesses as the primary benefactors. For these reasons, I certainly hope our policy makers in Washington to reauthorize EX-IM Bank.

    • August 12, 2014 at 5:12 pm
      Dave says:
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      I don’t think my comment in any way was political. One of my largest stock holdings is Boeing. Boeing who is one of the biggest beneficiaries of this bank. So if I were self-interested, I would support the continuance of this. With all of the bashing of corporate America (much of it undeserved in my opinion) this is one form of corporate welfare I think they should be willing to give up in exchange for meaningful tax reform, etc. Whether the treasury makes money on this should not matter whether they do it or not. And as matter of fact, if it is a money maker, let the private market do it and tax it. But this is one risk (possibly influenced by politics) that I don’t feel the American taxpayer should be exposed to.

      • August 17, 2014 at 10:41 am
        Donnad says:
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        Nonsense! I work for one of Boeing’s suppliers (a small business) which is one of hundreds! If. Boeing stops benefiting so will we and thousands upon thousands of jobs will be lost! Why not pick on the department of commerce with tens of thousands of employees or the departments of defense with hundreds of thousands and leave this tiny, profit generator for the taxpayer alone!

      • August 19, 2014 at 5:19 pm
        Teresa says:
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        I own one of those small business that use Ex-Im insurance to help secure credit lines for our export business. It is hardly corporate welfare since we pay premiums on every shipment and have never had a claim on our policy. The private market already provides insurance, but at a higher cost. Over 80% of authorizations by Ex-Im Bank are for small businesses like ours, and their insurance program helps sustain thousands of jobs, They help U.S. companies compete in foreign markets. There are already so many challenges and costs for small business owners. The difficulties in complying with government regulations has compounded at an unbelievable rate since I started my company 24 years ago. Ex-Im Bank is one of the few government programs that actually helps instead of hinders, so please reauthorize for the sake of the employees in our company that will lose their jobs if it goes away.



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