Only an Unprincipled Congress Would Revive the Ex-Im Bank

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Veronique de Rugy has been a tireless opponent of crony capitalism generally and the Export-Import Bank specifically for a long time. I encourage everyone to follow her on Twitter a @veroderugy .

And she is right. Only a completely unprincipled Congress would resurrect Ex-Im. The Dems should be ashamed of completely capitulating before the giant corporations they so often criticize. The few Republicans which may join the Dems in breathing new life into “Boeing’s Bank” should be ashamed of abandoning the principals of free enterprise in favor of blatant cronyism.

But we all know that shame is in short supply in Washington DC.

(From Reason)

The fight over the Export-Import Bank of the United States—a New Deal relic that until recently bestowed government privileges on powerful corporations and banks at the expense of the broader economy—is a perfect example. Thanks to House Freedom Caucus members and other congressional Republicans who were willing to take a principled stand against this odious form of government-granted privilege, Ex-Im died this past summer when its congressional accomplices failed to get it reauthorized. Those accomplices haven’t given up on restarting the agency, however, and media reports indicate that Republican leaders in the House and Senate would be fine with doing so if it helped wrap up business on Capitol Hill for the year so the party could focus on putting a Republican in the White House in 2016.

Click here for the article.