Adam Andrzejewski is the Chairman of American Transparency, founder of OpenTheBooks.com and the author of the Federal Transfer Report – Export – Import Bank.
How is bankrolling of dictators, subsidizing authoritarian regimes,propping up green energy and destabilizing entire industries good for growth?
By the end of June Congress will have to resolve whether the Export – Import Bank of the United States (Ex-Im) should be re-authorized. If Congress does nothing the authorization will expire but a vote could save the bank. The fate of the bank is important test that will show whether Congress is on the side of taxpayers, and basic market principles, or special interests that are capable of bending markets in their direction.
Presidential candidate Hilary Clinton is advocating re-authorization while most Republican presidential candidates are opposed. The Ex-Im Bank claims that it “fills the lending gaps for small businesses in international trade” and therefore “grows American jobs.” But critics hammer Ex-Im for cronyism, waste and outright corruption.