A battle over reauthorizing the U.S. Export-Import Bank (Ex-Im) is pitting conservative groups against big business and could lead to an insurrection against GOP leaders in the House this month.
The bank could hit its $100 billion loan limit at the end of March, making reauthorization a top priority for business groups such as the U.S. Chamber of Commerce, the National Association of Manufacturers and the Aerospace Industries Association. Hill
What do the welfare bums say?
Business groups and Ex-Im strongly dispute the notion that the bank provides subsidies.
“No one is being given anything for free,” said Ex-Im spokesman Phil Cogan. “The buyers are paying for the financing they are receiving. The bank is paying a fee.”
One lobbyist was aghast to hear that a GOP aide used the term “subsidies” in describing the reauthorization bill.
If its not a subsidy, then they don't need it, cancel the program.
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