CEI Opposes Waters Ex-Im Bank Reauthorization Bill
The Competitive Enterprise Institute (CEI) opposes a bill authored by Rep. Maxine Waters (D-CA) that would reauthorize Export-Import Bank (Ex-Im Bank) operations. The bill is different from a Senate bill introduced by Sens. Kevin Cramer (R-ND) and Kyrsten Sinema (D-AZ) that was the subject of a CEI study, entitled “How the Ex-Im Bank Enables Cronyism and Wastes Taxpayer Money.” That study stated CEI’s opposition to Ex-Im Bank reauthorization, but also proposed several key reforms to the Cramer-Sinema bill.
CEI senior fellow and study author Ryan Young said:
“The House should decline to reauthorize the Export-Import Bank, for several bipartisan reasons. Republicans oppose the Bank’s support of state-owned businesses in China and other illiberal countries. Air China is Ex-Im’s single largest state-owned beneficiary. Ex-Im cuts against other administration priorities in trade and foreign policy. Democrats oppose Ex-Im’s support of fossil fuel programs. America’s emergence as a net energy exporter also means that energy businesses do not need Ex-Im’s corporate welfare. More than 99.8 percent of American exports happen without Ex-Im involvement, and total exports hit record highs throughout Ex-Im’s 2014-2019 period of reduced activity. Even Ex-Im’s largest individual beneficiaries, such as Boeing, reported no trouble finding private financing and posted record profits during this period. Add in dozens of Ex-Im-related corruption allegations and millions of dollars of resources wasted on lobbying instead of becoming more competitive, and Congress should close the Export-Import Bank, not renew it. Failing that, any legislation should have a short authorization period of two or three years, not 10 years. Any reauthorization should also preserve Ex-Im’s board quorum requirement that gives the agency at least a modicum of accountability to Congress.”
Read more:
Source: https://cei.org/content/cei-opposes-waters-ex-im-bank-reauthorization-bill
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).