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Vote Alert

NTU urges YES votes on the following amendments to H.R. 2072, the Export-Import Bank Reauthorization Bill.

May 15, 2012

During debate over H.R. 2072, the Export-Import Bank Reauthorization Bill, NTU has issued several communications about the legislation. While NTU continues to oppose reauthorization of Ex-Im Bank, we commend your attention to the following Senate amendments to H.R. 2072:

  • Vote “YES” on Amendment #2104: Introduced by Sen. Toomey (R-PA), this amendment would only allow for incremental increases in funding for Ex-Im Bank, making availability of the full $140 billion in 2014 contingent upon a multilateral agreement to eliminate subsidized export financing programs. This approach provides incentives for the Secretary of the Treasury to negotiate an end to other trading partners’ export subsidies while strengthening the declared intent of H.R. 2072 to create a truly level playing field for American businesses.
  • Vote “YES” on Amendment #2101: Introduced by Sen. Paul (R-KY), this amendment would prohibit Ex-Im Bank from providing financing to any person or project in a country that holds U.S. debt, thus limiting the size and scope of the institution’s activities.
  • Vote “YES” on Amendment #2100: Introduced by Sen. Lee (R-UT), this amendment would provide for a one-year extension of Ex-Im Bank followed by a wind-down of bank operations.  Building upon current H.R. 2072 text that calls for negotiations with trading partners to end export subsidies, Amendment #2100 provides additional accountability in the form of an aggressive timeline and reporting.

Rather than support Ex-Im Bank’s corporate welfare, legislators should support reforms that help American businesses across the board by lowering tax burdens, fixing our broken Tax Code, and rolling back excessive regulations. Ex-Im Bank reauthorization would be a major step in the wrong direction. Roll call votes on the aforementioned amendments will be included in our annual Rating of Congress and “YES” votes will be considered the pro-taxpayer positions.

If you have any questions, please contact NTU Federal Affairs Manager Nan Swift at (703) 683-5700