Crony Ex-Im isn’t going away anytime soon. This should be an easy kill. But apparently not.
But we’ve got to keep the taxpayer funded Export-Import Bank, aka “Boeing’s Bank,” open right Congress? (And Mr. President?)
You know, we almost killed it. But the establishment GOP saved Ex-Im at the last minute. (Joining with Dems.) We bet Trump will let it live and perhaps give the agency new life.
That would be a shame. But you know – jobs. That’s how this corporate welfare will be sold.
Image: St. Louis Public Radio
The lobbyists from the Chamber of Commerce (not to mention from Boeing and other companies) have been leaning hard on lawmakers to restore The Export-Import Bank, “Boeing’s Bank“, to full capacity. And because many Republican lawmakers are only for free markets when it is convenient the bank likely will be restored completely and totally.
I hate the term “elites.” I find the people often referred to as “elites” are typically not elite at all. But that aside.
Representative Huelskamp apparently rubbed party (GOP) leadership the wrong way and as such was targeted.
Voting for crony capitalism can have negative consequences. That didn’t used to be the case for lawmakers.
Flying high in the crony skies.
So nice that Boeing, now with its huge taxpayer underwritten subsidy in hand thanks to many Republicans who abandoned the free market to support crony capitalism, slashes a bunch of jobs. The company had threatened to slash jobs if it didn’t get an Ex-Im renewal, but in the end it got rid of thousands of jobs anyway.
Crony capitalists do not operate on good faith or anything close to it. Remember this for the future.
H R 597 YEA-AND-NAY 27-Oct-2015 6:32 PM
QUESTION: On Passage
BILL TITLE: Reform Exports and Expand the American Economy Act
Now, who’s Boeing and who is Congress in this picture?
On October 9 members of the House, pretty much every Democrat (Which is just a crying shame but speaks to conformist nature of the party under Ms. Pelosi, Dems used to hate Ex-Im.) and a smattering of Republicans (but just enough) signed a “discharge petition” to bring a vote on the Export-Import Bank to the floor of the House through extraordinary means. The giant corporations, specifically Boeing, GE, Caterpillar and a few others have deployed their lobbyists in an all out assault on the anti-crony insurgents in Congress.
Veronique de Rugy has been a tireless opponent of crony capitalism generally and the Export-Import Bank specifically for a long time. I encourage everyone to follow her on Twitter a @veroderugy .
And she is right. Only a completely unprincipled Congress would resurrect Ex-Im. The Dems should be ashamed of completely capitulating before the giant corporations they so often criticize. The few Republicans which may join the Dems in breathing new life into “Boeing’s Bank”
Boeing and GE want their Ex-Im Bank. They’ve had taxpayer underwritten loans for so long they feel like they are owed them. As such they have deployed their lobbyists in a full arm twisting offensive. In the chaos surrounding the impending Speaker vacancy the giant corporations want to make sure they get what they have spread money around Congress to get. They are calling in “favors.”
GE and Boeing aren’t going to let the free marketeers win easily.