Export-Import Bank: Let it Die!

Watch House Financial Services Committee Chairman Hensarling deliver the opening statement on whether or not the Export-Import Bank is necessary.

insidejbs

Export-Import Bank: Let it Die!
by JBS President John F. McManus

Congressman Jeb Hensarling (R-Texas) is leading the campaign to let the Export-Import Bank expire. If Congress doesn’t formally reauthorize its existence by June 30, it will no longer be providing loans to foreign firms and governments who buy products from Boeing, General Electric, John Deere, and numerous other establishment-favored U.S. firms. Hensarling chairs the House Financial Services Committee where he has become a determined foe of the Bank.


Watch House Financial Services Committee Chairman Hensarling deliver the opening statement on whether or not the Export-Import Bank is necessary.

The Ex-Im Bank began courtesy of an executive order signed by President Roosevelt in 1934. (Unconstitutionally making law with the stroke of a pen isn’t something new!) Originally, its chief beneficiary was the murderous cabal running the Soviet Union. During the emergence of Communist China as an economic powerhouse in the 1980s…

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