Boeing, Big Business Threaten to Derail Trump Nominee for Head of Ex-Im Bank ⋆ American Lens

Boeing, Big Business Threaten to Derail Trump Nominee for Head of Ex-Im Bank

EX-IM BANKPresident Trump has nominated a vocal critic of the Export-Import Bank (Ex-Im Bank) to serve as its next president and the businesses that benefits from the Bank’s subsidies are not happy.

The Daily Signal reports the National Association of Manufacturers (NAM) and the Business Roundtable, are actively fighting the nomination of former Rep. Scott Garrett who opposed the Ex-ImBank while serving in Congress. Boeing, which has membership ties to both organizations, is one of the top beneficiaries of the Bank’s federally subsidized loans. In fact, conservative critics of the Ex-IM Bank have often called it “Boeing’s Bank.”

General Electric and Caterpillar are also noted as major beneficiaries by The Daily Signal.

A group of conservative organizations, including the Club for Growth and the Family Research Council have signed a letter in support of Garrett’s nomination. They write:

It is beyond audacious that the recipients of the Bank’s subsidies believe that they, not the President, can select the person to run the very agency that will hand the goodies out to them. This is regulatory capture at its worst.

Cronyism and corruption have long plagued the Bank’s operations. When special interests publicly demand their spoils in such an egregious manner, it only further erodes the public’s confidence in their government.

You can read the rest of the letter in its entirety here.

The corporate support for the Ex-Im Bank is a clear case of cronyism, especially when we consider that at one point Boeing’s deals accounted for 75% of the Bank’s financing. To see where Boeing stands on all the issues, visit their scorepage here.

This article was originally published at 2ndVote.com.

See more Articles by 2nd Vote at American Lens.



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2ndVote is the conservative watchdog for corporate activism. 2ndVote conducts extensive research on the policy positions taken by companies and non-profits through direct advocacy and financial support. For more information visit www.2ndVote.com or follow 2ndVote on Twitter @2ndvote and on Facebook at facebook.com/2ndvote.

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