Mac Zimmerman, Director of Policy Americans for Prosperity, in an email states:
Members of Congress have finally returned to Washington after a month-long vacation, and they’ll be deciding extremely soon whether or not to put an end to the wasteful, corrupt Export-Import Bank.
AFP activists have been leading the charge for months against the Export-Import Bank, and as our elected officials prepare to make their final decision, now’s the time to get all hands on deck to put an end to Ex-Im.
Video – “Break the Bank!”:
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, politically connected corporations. Eliminating the Export-Import Bank would level the playing field and allow U.S. companies to compete for business on their merits rather than the strength of their political ties to the bank.
Not only 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 poor accounting practices are harmful to taxpayers, who are left footing the bill. In fact, taxpayers have already bailed out this bank once before at a cost of $3 billion.
America deserves an international trade policy that is based on free-market mechanisms, not paying foreign companies to buy exports from large corporations with political connections.
EDITORS NOTE: To send a AFP prepared e-letter to your elected officials asking that they let the Export-Import Bank expire you may go here.