May 8, 2012, Fairfax, VA—Americans for Limited Government President Bill Wilson issued the following statement urging the House of Representatives to reject the $140 billion re-authorization for the Export Import Bank of the United States on May 9:
"If House Republicans truly oppose corporate welfare, then they should oppose giving another $140 billion to the Ex-Im Bank.
"For House Republicans the vote to authorize $140 billion for the Ex-Im Bank is a moment of truth for the new majority, which has professed to oppose preferential guaranteed loans for bankrupt corporations like Solyndra and Ener1, green energy firms that produced no energy. If that's true, if Republicans want to actually abandon corporate welfare and instead let market forces determine demand, then opposing reauthorization of the Ex-Im Bank, which lends to foreign corporations, is a natural choice.
"The Ex-Im Bank, a relic of the Great Depression, as constituted today gives foreign companies an unfair competitive advantage over U.S. companies, and therefore serves little purpose in today's global economy.
"Any member that votes for this is going to have to explain why they support a bank that lent over $10 million to bankrupt Solyndra to set up solar panels — in Belgium. Why they support a bank that apparently lent millions to a Mexican drug cartel and an oil company that may have had Russian mob ties. The Ex-Im Bank has outlived its usefulness and must be eliminated."
To view online: http://getliberty.org/time-to-end-the-ex-im-bank-on-may-9/
"No place for Republican crony capitalism," By Rick Manning, Director of Communications, Americans for Limited Government, May 8, 2012 at http://netrightdaily.com/2012/05/no-place-for-republican-crony-capitalism/
"Axe the Ex-Im Bank," By Howard Rich, Chairman, Americans for Limited Government, March 21, 2012 at http://netrightdaily.com/2012/03/axe-the-ex-im-bank/
"Big Government is Making Boeing a Bad Actor," By Howard Rich, Chairman, Americans for Limited Government, April 9, 2012 at http://netrightdaily.com/2012/04/big-government-is-making-boeing-a-bad-actor/
Americans for Limited Government is a non-partisan, nationwide network committed to advancing free market reforms, private property rights and core American liberties. For more information on ALG please call us at 703-383-0880 or visit our website at www.GetLiberty.org.