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You Can End Government Cronyism - Support Rep. Jeb Hensarling's Plan To Let The Ex-Im Bank Expire

Ryan and Hensarling

Last year conservatives likely had the votes to kill the Export-Import Bank, the major vehicle for cronyism between the federal government and a small group of huge corporations that use its taxpayer subsidized facilities, but they were dissuaded from killing it by a Capitol Hill GOP leadership worried such an act of principled conservativism might have unforeseen election year consequences.

But Ex-im Bank opponents haven’t given up and led by conservative House Financial Services Committee Chairman Jeb Hensarling they have steadily moved the House GOP toward getting the federal government out of deciding who gets favorable treatment in the export financing market.

The latest public advocate of ending the Ex-Im Bank is House Ways and Means Committee Chairman Paul Ryan.

Our friends at The Club for Growth gave us a heads-up that Congressman Ryan, Chairman of the tax-writing House Ways and Means Committee, had come out strongly against renewing the Ex-Im Bank in remarks published yesterday.

When asked by reporters what Congress should do about the bank’s authorization, which is scheduled to expire in June, Ryan said, “I think we should let it expire. Just let it go. Absolutely.”

“Paul Ryan has been a steady voice calling for an end to the Export-Import Bank, and its corporate welfare,” said Club for Growth President David McIntosh. “We’re delighted to stand with Chairman Ryan, House Majority Leader Kevin McCarthy, Majority Whip Steve Scalise, Financial Services Committee Chair Jeb Hensarling, the six Republicans – all looking at a possible run for the presidency – who spoke at the Club’s Winter Economic Conference, and many others who have said that Ex-Im should not be reauthorized. Ex-Im is another example of government trying to do what the private sector does best, and doing it badly. Like Congressman Ryan, we say of Ex-Im: ‘let it go.’”

By the way, The Club for Growth tells us the six Republicans who spoke out against the Export-Import Bank at the Club’s Winter Conference were former Governor Jeb Bush, Governors Bobby Jindal, Mike Pence, and Scott Walker, and Senators Ted Cruz and Marco Rubio.

The Capitol Switchboard is 1-866-220-0044. We urge you to call your Representative and tell him or her to support Chairman Hensarling’s plan to let the Export-Import Bank’s authorization expire in June when it comes up for renewal.

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