Congressional Tea Party Vows To Destroy America’s Export-Import Bank
Tea Party leaders in Congress are trying to kill the Export-Import Bank of the United States by deceptively depicting it as a taxpayer subsidy. The Ex-Im Bank provides financing for U.S. companies, mostly small businesses, to sell products and services to foreign customers, but doesn’t end up costing taxpayers anything. There are no subsidies, no tax breaks, no financial aid of any sort, and no risk to taxpayers at all. In fact, the Ex-Im pays billions into the U.S. Treasury's general fund every year. There has never before been any opposition to the Ex-Im. Until now. And our nuclear industry will be especially hurt. Without an Ex-Im, the U.S. won’t even be allowed to bid on large contracts. The weird thing is Republican districts benefit the most from the Ex-Im.