Washington Examiner editorial:
Though GOP lawmakers talk a big game about wanting to limit government, they are susceptible to big government if they can be convinced that a given policy benefits big business. To show voters they truly believe in free enterprise, Senate Republicans should work to kill the corporate welfare agency known as the Export-Import Bank.
The Export-Import Bank, known as Ex-Im, is a government agency founded by a 1934 executive order from President Franklin Roosevelt. Its ostensible purpose was to promote U.S. exports by making loan guarantees to foreign buyers. Though Republicans raised a stink when the bankruptcy of solar panel manufacturer Solyndra exposed U.S. taxpayers to $535 million in losses, a large majority of Republican House members voted Wednesday to extend and expand Ex-Im by approving up to $140 billion in loan guarantees. Without congressional action, the agency’s charter would expire at the end of the month.