Export-Import Bank

10/25/2010

 

On Monday, 10/25/2010, the House will likely vote to re-open the long-expired Export-Import Bank.

I don’t have to remind you that the Export-Import Bank is a slush fund for corporate welfare. It takes your money and gives it to well-connected special interests.

Big government lobbyists are working overtime this weekend. These crony capitalists just launched an online ad campaign to bully your Representative into voting to renew this slush fund for corporate welfare.

This bank expired over 100 days ago, but Boeing, GE and Wall Street banks will stop at nothing to keep their taxpayer subsidies flowing.

On Monday, every single House Democrat will vote to resurrect the now-defunct Export-Import Bank. We need Republicans to say “NO” and take a bold stand against this egregious use of your taxpayer dollars. Enough is enough. No more corporate welfare.

These Republicans are still on the fence about the Export-Import Bank. Share this graphic to tell them to vote “NO” on the Export-Import Bank.

Stop Ex-Im

——————————————————————————

On July 2nd, 2015, we killed the the Ex-Im Bank, but like Dracula, remove the stake, and he’s back with a  vengeance.   (See below for info).  In DC, things just don’t die.  Bad progressive policy (like corporate welfare) is  repackaged, buried in other bills and hence, resurrected unless YOU let our corrupt representatives know you’re not stupid and you’re not going to let them get away with  this.  So, here we go … 

” … Through a deal struck during the fast-track trade authority, the Export-Import Fight has become linked to the Highway Trust Fund (HTF) fight.  Senators are expected to try to attach a reauthorization amendment to HTF legislation.  In addition to making a bad bill worse, this would bundle two distinct policy issues that are best dealt separately.  

Success may come down to two individuals  who publicly oppose Ex-Im.  Rep Kevin McCarthy (R-CA23) should use his procedural power to block any bill reauthorizing Ex-Im in the House.  Senator Mitch McConnel (R-KY) should use his power to block Ex-Im from being voted on in the Senate as he has previously done. …” Weekly Heritage Action For America call notes http://ashevilleteaparty.org/?page_id=10839.  

Call your Congressmen Mark Meadows (R-NC 11) and Patrick McHenry(R-NC10) and urge them to vote NO on both the Hwy Trust Fund and Ex-Im and to let their opposition be known to Rep McCarthy.  http://ashevilleteaparty.org/?page_id=430

Call  Senators Burr (R-NC and Tillis (R-NC) and let them know that you expect them to urge Mitch McConnel to block Ex-Im from being voted on in the Senate and to oppose the Hwy Trust Fund. http://ashevilleteaparty.org/?page_id=430

 

 

—————————

July 2, 2015:  VICTORY AT LAST.  This 81 year old FDR Progressive left over called Export Import Bank is dead.  It begins liquidating its assets Wednesday, July 1st.  Congratulate yourself for a long hard war against the crony capitalists – both Ds and Rs – who supported corporate welfare of corporations like GE, Bechtel, Caterpillar, and China and Russia! Read more here:  http://ashevilleteaparty.org/?p=11796

From: Michael Needham
Date: Wed, Jul 1, 2015 at 12:31 AM
Subject: Congrats
To: All Heritage Action Staff

30 minutes ago, the authorization of the Export-Import Bank expired. The bank is now legally required to liquidate its assets.

This victory happened because we as a national team — along with our allies on the Hill, in the grassroots, and in the conservative movement — went toe-to-toe with folks better funded, better connected, and (in terms of sheer dollars and cents) better incentivized and we won.

Stopping the Export-Import Bank may seem small relative to recent events with marriage, Obamacare and trade. But it is not. The reason the Republican Establishment is unwilling to fight on marriage is the status quo is too comfortable for them to summon the courage. The reason they resisted defunding Obamacare was because the status quo was easier than a courageous stand to defund. With ExIm, we are on their turf. We are telling them that we are coming for them, that we can win and that we will win.

There is a lot more work to do in the coming months. Barack Obama and his big-government cronies will continue to fight to resurrect the bank. But nobody can take away from us that where we are right now was deemed impossible in the past, but it is now a harbinger of the future. Be proud and celebrate.

Best,

Mike

—————

Please submit comments to  LTE in Tribune Papers 6/26/2015:  Ex-Im Picks Winners and Losers in The Economy/Tribune Papers/Jane Bilellohttp://www.thetribunepapers.com/2015/06/27/ex-im-bank-picks-winners-and-losers-in-the-economy/

 See below for further information.  Ex-Im expires at the end of June, 2015.  Take Action!

6/2/2015 Tweet To Rep Mark Meadows and say thanks for standing strong.  See those who signed on not to reauthorize the Ex Im Bank http://heritageaction.com/congress/NC11/#representative-meadows

6/1/2015

Top Ten Ex-Im Facts

  1. Boeing, GE, and Caterpillar  received 87% of Ex-Im loan guarantees in FY13.
  2. The Ex-Im Bank provides export financing for just 0.009 percent of America’s small businesses.
  3. The vast majority of exporters—98 percent—do not receive assistance from the Ex-Im Bank.
  4. Export financing doesn’t create new jobs, it merely redistributes jobs across America’s economy.
  5. Among the top 10 buyers of Ex-Im exports, 5 are state-controlled and rake in millions of dollars from their own governments in addition to Ex-Im Bank subsidies.
  6. There are 31 open corruption and fraud investigations into the bank.
  7. The top beneficiaries of Ex-Im also have massive backlogs of orders, meaning jobs would not be lost when the bank expires.
  8. Ex-Im subsidies benefit China, Venezuela, Cuba, and Russia. State-owned foreign airlines have received $16 billion in subsidized financing since 2009.
  9. Taxpayers are on the hook for nearly $140 billion in the Ex-Im loan portfolio.
  10. The companies advocating for the reauthorization of Ex-Im have admitted they do NOT actually need it.

It’s time for this crony capitalist bank to be shut down for good.

Join us in the fight to #EndExIm by adding your name to the growing list of people opposed to the Export-Import Bank. Sign here.

http://heritageaction.com/demand-government-stop-playing-favorites-economy/?utm_medium=social&utm_source=twitter&utm_campaign=endexim&utm_content=060115eximtwittertownhall

———————

The Export Import Bank Has Got To Go http://www.freedomworks.org/content/ex-im-bank-has-got-go

Close the Export Import Bank …  http://www.forbes.com/sites/dougbandow/2014/05/05/close-the-export-import-bank-cut-federal-liabilities-kill-corporate-welfare-promote-free-trade/

Export-Import Bank’s Damage To American Firms http://www.washingtonpost.com/opinions/export-import-banks-damage-to-american-firms/2012/03/15/gIQAFDSNHS_story.html

—————

4/30/2015  House Freedom Caucus Comes Out Against Export Import Bankhttp://dailysignal.com/2015/04/29/conservative-house-freedom-caucus-comes-out-against-export-import-bank/?utm_source=heritagefoundation&utm_medium=email&utm_campaign=morningbell&mkt_tok=3RkMMJWWfF9wsRojvq%2FAZKXonjHpfsX56uUuWqCwlMI%2F0ER3fOvrPUfGjI4GRcZiI%2BSLDwEYGJlv6SgFQrLBMa1ozrgOWxU%3D

4/30/2015

  • End Export-Import Bank and Corporate Welfare:  Later this spring the House Republican Conference is expected to have an internal vote to determine the future of the Export-Import Bank. Although the Export-Import Bank claims to facilitate trade between the U.S. and other nations, it actuality uses taxpayer dollars to subsidize massive companies like Boeing, GE and Caterpillar. This is a slush fund for the government to pick favorites and give taxpayer dollars to a handful of well-connected special interests.The 79 lawmakers below have publicly come out in opposition to reauthorizing the Export-Import Bank. We commend them for taking a firm stand against corporate welfare.  Find out who, thank them, and take action.   http://heritageaction.com/ex-im/.  

Watch the video https://www.youtube.com/watch?v=hZ6Pj05C1KE

Read the research http://mercatus.org/site-search?search=export%20import%20bank

 

2/16/2015  Sign Heritage Action Petition:  End Export-Import Bank: Call you rep:   http://heritageaction.com/call/house/NC11/

2/9/2015: Manufacturers launch fresh push for ex-im bank:   http://thehill.com/policy/finance/231710-manufacturers-launch-fresh-push-for-ex-im

1/29/2015:  57 Republicans embrace corporate welfare http://heritageaction.com/2015/01/57-republicans-embrace-corporate-welfare-export-import-bank/

 

Export Import Bank:  http://heritageactionsentinel.com/issue/export-import-bank/

 

1/26/2015: WSJ: Should Congress reauthorize the Export Import Bank? http://www.wsj.com/articles/should-congress-reauthorize-the-export-import-bank-1422244839