Last night, Rep. Tom McClintock (R-CA) 84% asked for a recorded vote on H.R. 2548, the Electrify Africa Act of 2014. McClintock’s concern stems from a provision “quietly tucked into this bill” that would reauthorize the Overseas Private Investment Corporation (OPIC) for three years.
Rep. Michele Bachmann (R-MN) was on the House floor Wednesday where she clearly and compellingly explained why she is concerned about the potential creation of a National Women’s History Museum on the National Mall in D.C.
The Export-Import Bank’s problems and fundamental flaws abound. Diane Katz, a research fellow in regulatory policy at the Heritage Foundation, has explained how the Bank is a channel for corporate welfare on the backs of taxpayers and how badly the Bank mismanages taxpayer resources.
If that was not enough to convince you that the Bank should not be reauthorized this fall, perhaps envisioning the unfriendly and hostile regimes that benefit from U.S. taxpayer money via the Ex-Im Bank will help. Heritage made a graphic depicting just that:
The Export-Import Bank should no longer exist on a fundamental level because, rather than leveling the playing field as it claims, it picks winners and losers. And that’s not the government’s job.
The Heritage Foundation’s Diane Katz, a research fellow in regulatory policy, expounds upon the Bank’s many flaws in her most recent issue brief, which is full of unsettling revelations about the Bank’s mismanagement of taxpayer money. All of this has been documented for years by Ex–Im’s own inspector general and the Government Accountability Office (GAO).
A great letter to the editor today in the Chattanooga Times Free Press. Mike Budnick from Winchester, Tennessee called the end of the Export-Import Bank “long overdue.”
Congress will soon consider whether or not to reauthorize the Export-Import Bank. Like many well-intentioned government programs, the bank has morphed into a cronyism stash for well-connected special interests.