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Sen. Cruz Urges Senate Leadership to Keep the Export-Import Bank Dead

The Senate has the opportunity to do the right thing

WASHINGTON, D.C. – U.S. Sen. Ted Cruz (R-Texas) today issued the following statement after the House of Representatives passed legislation reauthorizing the Export-Import Bank, an egregious example of cronyism on the dime of hardworking Americans:

“Today was a win for the Washington Cartel and a loss for the American people.  Just hours after lame-duck Speaker John Boehner joined with lame-duck President Obama in agreeing to bust the budget caps and add over a trillion dollars to our debt, the two teamed up again to reauthorize the Export-Import Bank.  It’s time for the golden parachute to end.  The Ex-Im Bank is a classic example of corporate welfare--over $100 billion in taxpayer-guaranteed loans, given primarily to a handful of giant corporations--and it had already rightly been allowed to expire. 

“Fortunately, the Senate has the opportunity to do the right thing.  Majority Leader McConnell has publicly promised not to bring Ex-Im reauthorization to the Senate floor.  If he keeps that promise, then this cronyism will remain dead, and Leader McConnell will deserve the credit.  If not, then Washington will have sadly once again reverted to government of the lobbyist, by the lobbyist, and for the lobbyist.”