It’s the Cronyism, Stupid: Why the Ex-Im Fight Matters

It’s the Cronyism, Stupid: Why the Ex-Im Fight Matters

- in General
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Economy commentary Photo: Getty Images Commentary By Portrait of Diane Katz

Diane Katz,

The Daily Signal

 

Few Americans know much about the Export-Import Bank, and yet this obscure government agency is currently the focus of intense debate in the nation’s capital. So what gives?

At the most practical level, lawmakers must decide whether to reauthorize Ex-Im’s charter, which expires on Sept. 30. The bank provides taxpayer-subsidized financing to foreign firms so they can buy American exports.

Proponents claim that Ex-Im plays a crucial role in promoting the sale of U.S. goods and services abroad (not really), while critics (rightly) contend that the agency is a font of cronyism beset by mismanagement and dysfunction.

But the dispute also represents a threat t[…]

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