Dear Members of Congress:
On behalf of our groups and organizations, together representing millions of Americans, we urge you to oppose the reauthorization of the Export-Import Bank. It unfairly hurts domestic companies and risks billions of taxpayer dollars.
By paying foreign companies to buy American exports, the Export-Import Bank tilts the playing field away from mid-sized and small businesses in favor of large, politically connected corporations. The Airlines for America, for example, estimates that the bank’s recent loans to foreign airlines have killed as many as 7,500 jobs for domestic airlines in the United States. Eliminating the Export-Import Bank would level the playing field and allow U.S. companies to compete for business on their merits rather than the strength of their political ties to the bank.
Not only does the Export-Import bank interfere with the free market, it also jeopardizes billions of taxpayer dollars. According to a 2014 report from the Congressional Budget Office the bank will costs taxpayers $2 billion over the next decade despite claims that it pays for itself. This discrepancy is because the bank does not use fair-value accounting, a method widely used by private finance organizations. These risky loans and poor accounting practices are harmful to taxpayers, who are left footing the bill.
America deserves an international trade policy that is based on free-market mechanisms, not paying foreign companies to buy exports from large corporations with political connections. We, the undersigned organizations, urge you to oppose reauthorizing the Export-Import Bank.
Brent Gardner, Vice President of Government AffairsAmericans for Prosperity Marc Short, PresidentFreedom Partners Jim Martin, Chairman60 Plus Association Susan A. Carleson, Chairman/CEOAmerican Civil Rights Union Phil Kerpen, PresidentAmerican Commitment Dan Schneider, Executive DirectorAmerican Conservative Union Sean Noble, PresidentAmerican Encore Thomas J. Pyle, PresidentAmerican Energy Alliance Coley Jackson, PresidentAmericans for Competitive Enterprise Peter J. Thomas, ChairmanAmericans for Constitutional Liberty Richard Manning, PresidentAmericans for Limited Government Grover Norquist, PresidentAmericans for Tax Reform Scot Mussi, PresidentArizona Free Enterprise Club John Tate, PresidentCampaign For Liberty Kristin Fecteau, Co-FounderCampaign to Free America Tina Pisenti, Executive VP and COOCascade Policy Institute David McIntosh, PresidentClub for Growth Tom Brinkman Jr., ChairmanCoalition Opposed to Additional Spending and Taxes (COAST) Lawson Bader, PresidentCompetitive Enterprise Institute Pete Hegseth, CEOConcerned Veterans for America Chris Prandoni, Interim Executive DirectorCost of Government Center Thomas A. Schatz, PresidentCouncil for Citizens Against Government Waste L. Brent Bozell III, ChairmanForAmerica Matt Kibbe, President and FounderFreedomWorks Evan Feinberg, PresidentGeneration Opportunity Michael Scupin, Vice PresidentGeorgia Grassroots Coalition Michael A. Needham, Chief Executive OfficerHeritage Action for America Mario H. Lopez, PresidentHispanic Leadership Fund Kimberly Fletcher, President & FounderHomeMakers for America Inc. Carrie Lukas, Managing DirectorIndependent Women's Forum Heather Higgens, President and CEOIndependent Women’s Voice Andrew Langer, PresidentInstitute for Liberty Seton Motley, PresidentLess Government Colin A. Hanna, PresidentLet Freedom Ring Dee Hodges, PresidentMaryland Taxpayers Association Amy Ridenour, ChairmanNational Center for Public Policy Research Lew Uhler, PresidentNational Tax Limitation Committee Pete Sepp, PresidentNational Taxpayers Union Gov. Gary Johnson, Honorary ChairmanOur America Initiative Kimberly Wold, Executive DirectorProsper Andrew Moylan, Executive Director and Senior FellowR Street Institute Mike Stenhouse, CEORhode Island Center for Freedom and Prosperity Paul Gessing, PresidentRio Grande Foundation William Whipple III, PresidentSecure America's Future Economy Teri Christoph, Director of Digital MediaTami Nantz, Co-founderSmart Girl Politics Stephen Ellis, Vice PresidentTaxpayers for Common Sense David Williams, PresidentTaxpayers Protection Alliance Judson Phillips, FounderTea Party Nation Brett Healy, PresidentThe John K. MacIver Institute for Public Policy Daniel Garza, Executive DirectorThe LIBRE Initiative Morton Blackwell, ChairmanThe Weyrich Lunch Carl Bearden, Executive DirectorUnited for Missouri Rose Bogaert, ChairWayne County Taxpayers Association