Congress fails to close loophole allowing terror sponsor Iran to get Ex-Im funds

Nov. 5, 2015, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement condemning the House of Representatives for rejecting an amendment to H.R. 22 by U.S. Rep. Ed Royce (R-Calif.) that would prohibit subsides from the U.S. Export-Import Bank to state sponsors of terrorism like Iran:

“The actions of 181 Democrats and 63 of their Republican cohorts to fail to close a loophole that allows the Ex-Im Bank to provide U.S. taxpayer guaranteed loans to state sponsors of terrorism like Iran, Syria and Sudan upon a presidential waiver to buy state of the art Boeing aircraft is beyond comprehension. By failing to close the loophole, Congress has given carte blanche to President Obama to allow Ex-Im subsidized loans to go to Iran — because Congress just said they will do nothing about it.

“The 63 Republicans who voted against the Royce amendment are recklessly enabling our enemies, failing in their first responsibility, which is to protect national security. It is one thing to support corporate cronyism, and quite another to use taxpayer backing for state sponsors of terrorism to be the beneficiaries.

“Unfortunately now, when President Obama allows Iran to buy sophisticated parts and equipment by waiving the prohibitions of the Foreign Assistance Act, he knows that 63 House Republicans will stand by his side. The world is a more dangerous place today than it was yesterday, and these renegade Republicans bear the responsibility.

“Americans for Limited Government extends its gratitude to Congressman Ed Royce and all those who stood against this travesty of American governance.”

Interview Availability: Please contact Americans for Limited Government at 703-383-0880 ext. 106 or at media@limitgov.org to arrange an interview with ALG experts including ALG President Rick Manning.

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