Key Vote Alert – “NO” on Co-Sponsoring HR 597 (Reauthorizing the Ex-Im Bank)

Mr. Andrew Roth - January 30th, 2015

KEY VOTE ALERT

“NO” on Co-Sponsoring HR 597

(Reauthorizing Ex-Im Bank)

 The Club for Growth urges all House members to not co-sponsor HR 597, a bill that reauthorizes the Export-Import Bank of the United States. Members who co-sponsor this bill will receive negative points on the Club’s 2015 Congressional Scorecard. Negative points will not be assessed to anyone who is currently a co-sponsor who subsequently removes his name in a reasonable amount of time after this alert is officially released.

HR 597 is disguised as offering real reform, but its true aim is to immortalize the Ex-Im Bank.  Some politicians hold the myopic view that the Ex-Im Bank provides “jobs”, but to quote President Obama, it’s little more than a fund for corporate welfare.  In a previous key vote alert, we wrote, “The Export-Import Bank’s actions are nothing more than market-distorting subsidies that pick winners and losers in the private sector. Market forces should dictate trade flows, not bureaucrats and politicians.”  True reform would allow the Bank’s charter to expire on June 30, 2015, as it is currently scheduled.

We urge House members to not co-sponsor this bill, and we urge current co-sponsors to immediately withdraw their names.

Our Congressional Scorecard for the 114th Congress provides a comprehensive rating of how well or how poorly each member of Congress supports pro-growth, free-market policies and will be distributed to our members and to the public.