Export-Import News

As Ex-Im Winds Down, Misleading Rhetoric Ratchets Up

Arlington, VA — Export-Import Bank beneficiary General Electric recently announced that it had reached a deal to create 1,000 jobs in the UK, blaming the move on a lack of U.S. export financing after Ex-Im’s lapse.…

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Export-Import News

Sanders Blasts GE Reliance On Taxpayer Support

Arlington, VA — U.S. Sen. Bernie Sanders (I-VT) doesn’t like the Export-Import Bank, and he probably doesn’t like the fact that General Electric is threatening to move 500 American jobs overseas until the company gets back its billions of dollars in annual Ex-Im subsidies from the American taxpayers.…

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Export-Import News

CORRECTION: GE Not Moving 500 Jobs Overseas

Arlington, VA — General Electric (GE) made headlines Tuesday with the company’s announcement that it would be moving “around 500 U.S. jobs overseas. . . a decision the company said was prompted by the lapse of the U.S.…

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More Ex-Im News  
What Is The Export-Import Bank?

The Export-Import Bank is a federal agency that provides credit, insurance, and loans – all guaranteed by U.S. Taxpayers – to foreign and domestic companies in an effort to promote U.S. exports.

When a company doesn’t pay back its loan, American taxpayers foot the bill. When a company earns money from the transaction, it pockets the profits.

“We just need to cut back, like waste at the Economic Development Agency and the Export-Import Bank that has become little more than a fund for corporate welfare.”

Then-Sen. Barack Obama

Where Does The Money Go?

Nearly eighty cents out of every dollar goes to large corporations that employ armies of lobbyists.

These types of backroom deals hurt American taxpayers, workers, and small businesses.

“U.S. airlines today face that very competition from our own government in the form of Ex-Im loan guarantees – subsidies that are both massive and unnecessary.”

Richard H. Anderson
CEO, Delta Airlines