Conservative Groups Call for Ex-Im Lapse as Cutoff Looms
More than 50 conservative organizations called on Congress to allow the Export-Import Bank to expire in an April 21 letter to members in both chambers (here). The credit agency faces a June 30 authorization cutoff. Those organizations include several influential…
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public policy groups, such as Heritage Action, the Club for Growth, Americans for Prosperity and Americans for Tax Reform. The bank damages domestic companies and favors big business, said the letter. “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,” said the letter. “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.” Conservative groups have long-called on Congress to get rid of the credit agency, and allies on Capitol Hill have battled to remove it (see 1503190052). Industry groups, such as the National Association of Manufacturers and the Chamber of Commerce, routinely call for the credit agency’s extension (see 1502200006).