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Despite torrents of opposition to the Ex-Im slush fund for corporate welfare, the U.S. Chamber of Commerce is sticking to its guns. Last week, it released a series of “facts” to promote reauthorization of its charter this fall.
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THE REAL FACTS ON THE EXPORT-IMPORT
BANK:5 Real Facts
Disputing the Claims of
Cronyists in Washington
REAL FACT 1:Ex-Im’s cost to
taxpayers will be $2 billion over the next
decade.
REAL FACT 2:Small business
financing accounts for roughly 19 percent of
Ex-Im’s portfolio.
REAL FACT 3:Ex-Im’s “loan-loss rate” is bogus. Its
losses are inevitable and imminent.
REAL FACT 4:Ex-Im cannot create
American jobs. In fact, it supports jobs for
foreign competitors.
REAL FACT 5:Allowing the Bank to
expire will save taxpayers money, while having almost no effect
on exports.
TELL CONGRESS TO ALLOW THE
EXPORT-IMPORT BANK
TO EXPIRE
