Sen. Cruz: Let the Export-Import Bank Expire
Votes against reauthorizing Washington cronyism
WASHINGTON, D.C. – U.S. Sen. Ted Cruz (R-Texas) issued the following statement after a vote this afternoon on reauthorizing the Export-Import Bank (Ex-Im) as part of the National Defense Authorization Act. Sixty-five senators voted to keep Ex-Im alive, while 29 Republicans and one Independent joined Sen. Cruz in voting to end Ex-Im and the Washington cronyism it represents. Sen. Cruz looks forward to ensuring the Export-Import Bank charter expires permanently after its statutory expiration date of June 30.
“The vast majority of the Export-Import Bank’s funds go to giant corporations,” said Sen. Cruz. “Washington shouldn’t be picking winners and losers, and this vote this afternoon is a perfect example of why people are so frustrated with career politicians in both parties. A lot of Democrats rail against corporate welfare. And yet, Democrats are lining up to support giant corporations with U.S. taxpayer dollars, including some Democrats who style themselves as populists. Apparently, exposing the United States Treasury to hundreds of billions of dollars of losses in order to benefit well-connected giant corporations aligns with the priorities of today’s Democrats, and sadly, far too many Republicans as well.”
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