Pompeo on Reauthorization of Export-Import Bank
“More government intervention in the private sector will not create the jobs Kansans need or deserve.”
October 27, 2015
WASHINGTON, D.C. – Congressman Mike Pompeo (R-Kan.) today released the following statement after voting against reauthorizing the Export-Import Bank due to the reauthorization’s inability to provide adequate protection for taxpayers:
“The Export-Import Bank is another government program that will cost American jobs and harm American taxpayers. Instead of fulfilling its intended role as a lender of last resort, the Ex-Im Bank has become a corrupt organization. Taxpayer money has been funneled to China, Russia, Saudi Arabia, the UAE, and to countries with abysmal human rights records, like Congo and Sudan. The bank’s ongoing bribery investigations, kickbacks, and fraud place our country’s reputation and tax dollars at enormous risk. In light of these issues, I have worked diligently with concerned individuals and the industry on crafting much-needed reforms to the Ex-Im Bank to protect American taxpayers. Unfortunately, a backroom procedural motion has scuttled any attempt at serious reforms, leaving me no choice but to oppose the continuation of the bank in its current form.
“Instead of continuing down the same old path, Congress must fulfill its obligation to re-evaluate the whole system and enact reforms that will strengthen the free market and U.S. competitiveness. Congress should have rejected Washington’s ‘business as usual’ approach, and worked to create a climate that would grow more jobs and allow Kansas companies and workers to compete and thrive on a global stage. More government intervention in the private sector — especially in U.S. credit markets — will not create the new jobs Kansans need or deserve.”