Entitlement Reform

Export-Import Bank on the Firing Line on Capitol Hill

Doug Sachtleben - April 15th, 2015

Washington, DC – The Club for Growth commented on today’s joint House committee hearing on the Export-Import Bank:

“One after another House Republicans exposed the hazards caused by the taxpayer-supported Export-Import Bank,” said Club for Growth President David McIntosh. “Widespread corruption, fraud, missing data, corporate welfare, and a federal agency competing against the private sector were all on the table today on Capitol Hill. Congressman Jim Jordan (OH) and Congressman Bill Huizenga (MI) deserve credit for chairing this joint hearing, which also exposed the fact that future indictments are possible in at least 31 open fraud investigations involving Ex-Im. As Chairman Jordan said, ‘This is an easy call. This Bank is corrupt and it should be eliminated.’ The Club for Growth agrees and continues to urge Members of Congress to not reauthorize the Export-Import Bank.”

The Club for Growth is the nation’s leading group promoting economic freedom through legislative involvement, issue advocacy, research, and education.

Paul Ryan on the Export-Import Bank: “Let it go”

Doug Sachtleben - March 27th, 2015

The Club for Growth stands with Ryan, McCarthy, Scalise, Hensarling, and many others in calling for an end to Ex-Im.

Washington, DC – The Club for Growth thanked Congressman Paul Ryan, Chairman of the House Ways and Means Committee, for his published remarks today on the Export-Import Bank. When asked by reporters what Congress should do about the bank’s authorization, which is scheduled to expire in June, Ryan said, “I think we should let it expire. Just let it go. Absolutely.”

 

“Paul Ryan has been a steady voice calling for an end to the Export-Import Bank, and its corporate welfare,” said Club for Growth President David McIntosh. “We’re delighted to stand with Chairman Ryan, House Majority Leader Kevin McCarthy, Majority Whip Steve Scalise, Financial Services Committee Chair Jeb Hensarling, the six Republicans – all looking at a possible run for the presidency – who spoke at the Club’s Winter Economic Conference, and many others who have said that Ex-Im should not be reauthorized. Ex-Im is another example of government trying to do what the private sector does best, and doing it badly. Like Congressman Ryan, we say of Ex-Im: ‘let it go.’”

The six Republicans who spoke out against the Export-Import Bank at the Club’s Winter Conference were former Governor Jeb Bush, Governors Bobby Jindal, Mike Pence, and Scott Walker, and Senators Ted Cruz and Marco Rubio.

 

The Club for Growth is the nation’s leading group promoting economic freedom through legislative involvement, issue advocacy, research, and education.

Club for Growth Responds to Latest Defenders of the Export-Import Bank

Doug Sachtleben - March 26th, 2015

99% of American companies doing business in world markets don’t get federal handouts from Ex-Im in order to compete.

Washington, DC – The Club for Growth today commented on recent efforts by special interest groups to defend the Export-Import Bank (Ex-Im):

 

“Special interests claim that 3,000 American companies depend on the Export-Import Bank to compete globally. That’s exactly one percent of the U.S. companies that are exporting goods,” said Club for Growth President David McIntosh. “That means 99% of the American companies that are doing business in world markets don’t get federal handouts from Ex-Im in order to compete. Is that fair? Worse yet, 93% of the loans guaranteed by Ex-Im benefit only five companies. Boeing and General Electric are great American companies, but they don’t need taxpayer support to compete globally as great American companies. All Americans are better off when the economy is bolstered by companies that don’t need handouts to compete in world markets. When the bank’s charter expires in June Congress should bid farewell to Ex-Im as another relic of FDR’s big-government era.”

The Club for Growth is the nation’s leading group promoting economic freedom through legislative involvement, issue advocacy, research, and education.

Reason TV: Don’t Tell ‘Em (Obamacare Version)

Barney Keller - November 17th, 2014

Club for Growth: Export-Import Bank “Grubered” Their Data

Barney Keller - November 13th, 2014

Club for Growth President Chris Chocola: “Does Jonathan Gruber consult for the Export-Import Bank as well?”

Washington, DC – The Club for Growth released the following statement in response to a Reuter’s news report that the Export-Import Bank classified several companies owned by billionaires like Warren Buffett as “small businesses” when fighting for reauthorization by Congress:

“Does Jonathan Gruber consult for the Export-Import Bank as well? It’s appalling, but not surprising, that a corporate welfare slush fund like the Export-Import Bank would mislead the public about their data in order to stay alive,” said Club for Growth President Chris Chocola. “Maybe Fred Hochberg thinks, like Gruber, that a lack of transparency is a political asset. The Export-Import Bank should be shut down immediately, and members of Congress should look skeptically at anything the bank says about what it does for small businesses – the data may be ‘Grubered.’”