Policy: Economy

Banking chairman Jeb Hensarling comes out swinging against Export-Import Bank

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Beltway Confidential,Opinion,Timothy P. Carney,Economy,Jeb Hensarling,Trade,Export Import Bank

Jeb Hensarling has never been very sweet on the Export-Import Bank, which is a big deal, because he chairs the committee charged with its reauthorization. Today, responding to the administration's request to reauthorize the agency and increase its activity, Hensarling blasted Ex-Im unequivocally in a statement:

I have always believed that re-authorizing the Export-Import Bank is a bad idea. In many respects, it’s the face of cronyism. ... Only in Washington can a taxpayer-subsidized program whose only purpose is to pick winners and losers ‘fail upward’ by requesting more money. ...

The committee will hold a hearing in the coming months to discuss this reauthorization request and give Members an opportunity to publicly debate the merits of the Bank. It is time for Members and hard-working taxpayers to take a good look at the operations of the Export-Import Bank.

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