Sen. Elizabeth Warren may have the reputation of a full-fledged populist, but when it comes to the Export-Import Bank she embraces the political favoritism and cronyism it engenders.
The left’s rising star rarely holds her tongue on such issues, yet months into the debate over the future of the taxpayer-backed Export-Import Bank, Senator Elizabeth Warren remained silent.
While Warren happily continued her normal anti-Wall Street rhetoric — “We need some more people who are willing to work on the side of America’s families” — she avoided taking a stance on a taxpayer-backed institution that benefits large corporations, foreign and domestic, at the expense of other U.S. employers.
On Monday, July 14th, Warren was at it again. Hitting the campaign trail in West Virginia, she suggested well-connected special interests have “plenty of folks in the U.S. Senate willing to work on their side.”
Her critique resonates, so we invited her to an event about “ending the Export-Import Bank.”
The following day Sen. Warren’s office gave Bloomberg the following statement:
Senator Warren believes that the Export-Import Bank helps create American jobs and spur economic growth, but recognizes that there is room for improvement in the bank’s operations. She looks forward to reviewing re-authorization legislation if and when it is introduced.
Warren’s response is not quite what you would expect from someone who claims to be working “on the side of American families.” Especially when the corporate-welfare machine she is in support of “guarantees ‘free money,’ allowing [banks] to be more aggressive in financing exports because taxpayers serve as the backstop if a deal fails.”
Warren is not the first on the so-called populist left to support the Export-Import Bank. Others liberal leaders in favor of reauthorization include former Secretary of State Hillary Clinton, Senate Majority Leader Harry Reid, and Senator Chuck Schumer.
In response to her decision, Heritage Action has made sure that all of the followers of the self proclaimed “enemy of greedy corporations” see her position when it comes to actually fighting against corporate welfare. Check out the ad her supporters are seeing on Facebook:
The expiration of the Export-Import Bank’s charter is approaching quickly. What can you do? Share this page with your friends and neighbors an spread the message about ending the Export-Import Bank and the culture of cronyism in Washington.