Airline meeting at White House should renew scrutiny of Ex-Im Bank subsidizing foreign competitors

Feb. 9, 2017, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement urging Congress and the President to renew scrutiny of the Export-Import Bank of the United States, which offers low-cost financing to foreign airlines to purchase Boeing planes, in light of the meeting of airline executives with President Donald Trump:

“U.S. airline industry executives meeting with President Trump today would be remiss not to remind the President that the U.S. government subsidizes foreign air carriers purchase of airliners from Boeing Corporation through the Export-Import Bank, putting domestic carriers at a competitive disadvantage.

“Foreign air carriers pay lower interest rates due to Ex-Im Bank guarantees of payment for Boeing aircraft than domestic carriers. One thing that fiscal conservatives can agree on is that Export-Import Bank reeks of the exact kind of crony capitalism that the President was elected to uproot.

“Today’s meeting at the White House should re-open scrutiny of the Ex-Im Bank and Congress should take action to end the Ex-Im Bank as part of their efforts to drain the D.C. swamp.”

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