Wednesday, May 13, 2015

The Debate Over the Export-Import Bank, Explained in 90 Seconds

I wanted to share this with you. As you probably know the Wayne County Taxpayers Association is one of the organizations which are composed of thousands of members, who have indicated that we want congress to let the Export - Import Bank authorization expire in June. If you have not contacted congress please do so.


I wanted to give you an update on the fight to end the Export-Import Bank.
I don’t have to tell you that 87% of the Ex-Im’s loan guarantees went to Boeing, GE and Caterpillar, that it doesn’t create jobs, and that all GOP presidential candidates oppose the bank. You already know that.
What I do want to remind you is that we have a real chance to shut down this government agency.
Thanks to your grassroots pressure and our Capitol Hill team, momentum is growing and each week we add more and more names to the list of representatives who have publicly come out in opposition to the bank.
And I have great news. We now have 88 lawmakers on our list.
These lawmakers are taking a bold stand against corporate cronyism and we thank them for their efforts. Two lawmakers who came out publicly last week under extreme special interest pressure were Jody Hice and Brad Wenstrup.
Rep. Jody Hice’s Georgia district is home to a new Caterpillar factory. Rather than giving into cronyist culture, he publicly came out against the bank. Jody Hice is representing the best interest of his constituents, not the special interest lobbying groups in Washington.
Rep. Brad Wenstrup’s Ohio district is home to GE Aviation, one of the biggest beneficiaries of the Export-Import Bank. He is proud of GE’s innovation and technology, but understands the company doesn’t need taxpayer subsidies to thrive. Brad Wenstrup took a strong stand for principle.
Thank you for engaging in this fight with us. We are optimistic the bank will NOT be reauthorized on June 30 and that it will be shut down forever.
Lets keep the pressure up as we finish the fight!

Michael A. Needham
Chief Executive Officer
Heritage Action for America