The fight to end the cronyism and corporate welfare for wealthy, multinational corporations perpetuated by the Export-Import Bank continues to heat up every day. Delta Air Lines Inc. is one American company being disadvantaged by the Bank's practices of giving subsidies to their foreign competitors.
Delta Air Lines Inc. has other ideas. Pilots and flight attendants for the Atlanta-based carrier have been canvassing the halls of Congress this week to tell lawmakers that the bank's financing benefits foreign carriers at Delta's expense.
The debate is essentially a replay of a 2012 dispute over the future of the bank, which offers loan guarantees, insurance and loans. President Barack Obama's administration is seeking a five-year reauthorization, with a gradual increase in its lending cap to $160 billion from $140 billion currently.
Some U.S. airlines led by Delta say the financing helps competitors like Air India Ltd. and Dubai-based Emirates Airline buy wide-body planes made by Boeing Co.
"U.S. airlines are being disadvantaged by our government, making it impossible to compete," John White, a Detroit-based Delta pilot, said today in a statement.
If you agree that corporations and companies should compete based on their merits and their products rather than on political connections (cronyism), take action.
Oppose the Export-Import Bank.