Ex-Im Bank touts U.S. jobs but companies export positions overseas
Most of Watchdog.org’s calls and emails to U.S. lawmakers were not returned, but a spokeswoman for U.S. Rep. Ken Buck, R-Colo., provided a statement praising the expiration of Ex-Im Bank’s authorization.
“As a prosecutor, I strongly oppose the Ex-Im Bank because this federal agency has a history of accepting bribes, steering funds to favored foreign companies, and chilling the market for our home-grown companies,” the statement said. “Ex-Im has become a breeding ground for corruption, cronyism, and fraud.”
The reauthorization of the bank, which for decades was routine, was blocked when House Republicans broke with establishment lawmakers. Conservatives have charged the bank is a waste of taxpayer money, distorts markets by favoring some companies over others and provides cheap financing to foreign companies that then compete on a less-than-level playing field with U.S. businesses.