Export-Import Bank Amendment Plays Politics with Defense Bill

Washington — As the Senate continues debate on the House-passed National Defense Authorization Act (NDAA) for Fiscal Year 2016 (H.R. 1735), rumors persist that Senators Maria Cantwell (D-WA) 7%, Lindsey Graham (R-SC) 31% and Mark Kirk (R-IL) 15% will try to attach an amendment to reauthorize the Export-Import Bank.  Heritage Action released the following statement from chief executive officer Michael A. Needham:

“The Export-Import Bank plays no role in protecting our national security and it is deplorable Senators would attempt to advance this slush fund for corporate welfare on the backs of our brave men and women.  Allowing the important debate over the future of our military to become a special interest Christmas tree would create perverse incentives that would have a negative impact on our military.  Heritage Action will key vote against any bill, including the NDAA, that reauthorizes this bank.

James Jay Carafano, Ph.D., the Heritage Foundation’s vice president for foreign and defense policy studies, added:

“To jam this corporate welfare provision into the NDAA goes beyond the pale in playing politics with national security. This could destroys the credibility of the NDAA as must-pass legislation that the nation needs to provide for the common defense.”

Related:
Heritage Action’s Scorecard
WSJ: Ex-Im works against U.S. interests abroad
Real Clear Politics: Ex-Im: Welfare for Commodity Traders and China
Cincinnati Enquirer: Ex-Im Bank not essential to GE Aviation jobs
Reuters: Emirates airline says Ex-Im Bank not critical for its plane financing
Real Clear Markets: Ex-Im doesn’t create jobs in America
Mercatus: The Biggest Beneficiaries of the Ex-Im Bank
Mercatus: The Export-Import Bank’s Top Foreign Buyers
Wall Street Journal: Boeing: We could find alternative funding sources
Heritage: Companies have massive backorders, won’t shed jobs when Ex-Im expires
Examiner: Ex-Im is “free money” for big banks
Wall Street Journal: Ex-Im works against U.S. interests abroad
Reuters: Massive corruption at Ex-Im