Break the Beltway Bank

[...] dollars” seems like a fairly ridiculous question for anyone to have to ask. But for the Export-Import Bank, which doles out taxpayer-backed loans to big businesses and foreign corporations, it’s a [...]

[...] to double-down on its green energy boondoggles overseas by reauthorizing and expanding the Export-Import Bank. The Export-Import (Ex-Im) Bank is a government entity that provides billions worth of [...]

[...] begins to wind down, the debate over whether to extend the life of the taxpayer-backed Export-Import Bank (Ex-Im) is continuing to heat up as its September 30th expiration date approaches.  Much [...]

[...] By paying foreign companies to buy American exports, the Export-Import Bank tilts the playing field away from mid-sized and small businesses in favor of large, [...]

[...] (via taxpayer-supported loans to giant corporations in countries like China and Russia) the Ex-Im Bank made up less than 2% of more than $2 trillion U.S. exports. The bank is hardly essential to the [...]

[...] subsidize foreign loans to these nations? Many of the foreign corporations receiving generous Ex-Im bank loans are some of the best financed and well-connected in their countries – if not the world. [...]

[...] a loss of this magnitude, it’s no wonder the Bank’s supporters oppose privatization. The Ex-Im Bank and other federal credit agencies use an incomplete accounting formula from the Federal Credit [...]

[...] talking points when promoting itself is that it makes money, but this new report shows that the Ex-Im Bank hemorrhages billions of taxpayer dollars. The new CBO report shows that the Bank uses [...]

[...] , not a profit. As if losing billions of taxpayer money wasn’t bad enough, these loans are corporate welfare. House Financial Services Chairman Jeb Hensarling excoriated the bank in a recent speech, [...]

[...] trail in 2008, then-candidate Obama called the Ex-Im Bank “little more than a fund for corporate welfare.” Under his watch, it has lived up to his 2008 assessment. The President is now on record [...]

[...] its reauthorization. The Export-Import Bank by its nature is a massive fund for corporate welfare. The large multinational corporations that benefit from “Ex-Im” simply do not need an [...]

[...] dollars to foreign competition certainly is not helping matters. It is time to put an end to corporate welfare, both foreign and domestic, and break the bank. [...]

[...] is proud to lead a coalition of 30 organizations in opposing the reauthorization of the Export Import Bank, which subsidizes loans to foreign companies to encourage them to buy American exports. [...]

[...] for Prosperity President Tim Phillips called on Congress to let the charter for the Export Import Bank expire, describing it as the perfect example of crony capitalism for Washington special [...]

[...] the cost of market. This provides more accurate risk assessment of the investment. With the Export Import Bank due to expire at the end of September, we hear increasing calls from special interests to [...]

This article first appeared on the Americans For Prosperity blog on May 21 2014. Online Here By Eric Peterson Why has the largest foreign holder of [...]

[...] firms emerge in the green energy market – or to put U.S. taxpayers at risk on behalf of foreign corporations. [...]

[...] Export-Import Bank, which doles out taxpayer-backed loans to big businesses and foreign corporations, it’s a completely legitimate one – and one that the bank can’t answer. The second [...]

[...] to ask American taxpayers to subsidize foreign loans to these nations? Many of the foreign corporations receiving generous Ex-Im bank loans are some of the best financed and well-connected in [...]

[...] over the next decade. The Bank, which hands out taxpayer-backed financing to foreign corporations that do business with some of America’s largest companies claims that it makes a [...]

[...] extremely disconcerting given the inherently suspect nature of the Bank’s function. Lending taxpayer dollars to foreign countries and corporations who in turn use that money to benefit other huge [...]

[...] is “unknown” by its own accounts. The fact that the Bank loses (and loses track of) taxpayer dollars should give Congress great pause as they consider its reauthorization this year. The [...]

[...] that it makes money, but this new report shows that the Ex-Im Bank hemorrhages billions of taxpayer dollars. The new CBO report shows that the Bank uses accounting practices that don’t accurately [...]

[...] does the Export-Import bank interfere with the free market, it also jeopardizes billions of taxpayer dollars. According to MIT, the bank is actually losing $200 million a year. These risky loans and [...]

[...] . The Export-Import (Ex-Im) Bank is a government entity that provides billions worth of taxpayer-backed loans to foreign companies on the premise that the loans will encourage the purchase of U.S. [...]

[...] question for anyone to have to ask. But for the Export-Import Bank, which doles out taxpayer-backed loans to big businesses and foreign corporations, it’s a completely legitimate one – and one [...]

[...] serious flaws in the accounting practices used by Ex-Im, which hands out billions in taxpayer-backed loans to foreign companies. Up until now, one of the bank’s major talking points when promoting [...]

[...] and an in-crowd of current and retired Congressional Republicans The FDR antique provides taxpayer-backed loans, loan guarantees, working capital guarantees and export credit insurance to clients of [...]

[...] This article first appeared on the Americans For Prosperity blog on June 28, 2013. Online here By Eric Peterson The federal government has a long [...]

[...] This article first appeared on the Americans For Prosperity blog on May 20 2014. Online Here By Akash Chougule “Where in the world are my $24 billion [...]

[...] This article first appeared on the Americans For Prosperity blog on May 21 2014. Online Here By Eric Peterson Why has the largest foreign holder of [...]

[...] This article first appeared on the Americans For Prosperity blog on May 23, 2014. Online here By Akash Chougule A new report from the nonpartisan [...]

[...] to do because they receive steep discounts made possible by the American taxpayer through Ex-Im financing. Similarly, Michigan miners and their representatives are worried about their ability to [...]