February 11, 2017


Could Trump End Up Saving the Export-Important Bank? (YLAN Q. MUI, 2/11/17, CNBC)

Pushback is emerging among conservative Republicans over President Donald Trump's apparent support for the Export-Import Bank, an institution they have pilloried as a giveaway to big businesses.

The Ex-Im bank, as it's called, assists U.S. companies' overseas business by doing things such as guaranteeing loans for foreign buyers of U.S. products, or insuring transactions. The agency takes on credit risks that private companies, including banks, aren't willing to accept.

Republican Rep. Justin Amash of Michigan, a vocal critic of the bank, is maintaining his opposition, a spokesperson said Friday. Republican Sen. Mike Lee of Utah, who co-sponsored a bill with Amash to abolish the bank, also said Friday that it should be repealed. And the conservative advocacy group Heritage Action reiterated that it believes the bank should be dismantled. More than 90 lawmakers have previously opposed the bank, according to a list compiled by the group.

"The Export-Import Bank is little more than a corporate welfare agency," Heritage Action said in a statement Friday.

This is outstanding for opponents of Donald.  Wasting what little political capital he has on trivia like this just sets up a more antagonistic relationship with Republicans on stuff that matters. 

Posted by at February 11, 2017 7:43 AM