The Export/Import Banks has quite a history. It is the official credit agency of the United States, whose primary responsibility is to aid the exports of American made goods. The bank participated in the Marshall Plan, it helped get the Pan Am Highway built and it helped with implementing Lend Lease. It needs to be re-chartered if it is to continue. Surprisingly both the National Chamber of Commerce and the National Association of Manufacturers want to see it continue. But, right wing conservatives want to see the bank end.
One would think that true Republicans would want an independent agency to provide loans to small businesses and mid sized businesses as the agency has done since it’s beginnings. When commercial banks are unwilling or unable to provide loans the export import bank has done so. Growing businesses should be what America is all about, so that more good paying jobs are out there to support the Middle Class. But no, one of the pre-conditions of the Tea Party members of the House in choosing a Speaker is to oppose the Export/Import Bank.
Maybe the right wing is against the bank because it has funded green jobs. I did not know Congress could or should discriminate when it comes to providing jobs for Americans. GE, a large American corporation just allegedly moved to Canada because it could not get the funding it needed for a new plant.
One would think that being against green jobs helps keep America dependent on the Saudi’s. Our reliance on Saudi Arabia and the dependence on Saudi oil that Europe has keeps us tied to the oil rich gulf states. This is not good for the West to still be dependent on a country or countries that fund terrorism because of their belief in the Wahhabism sect, of the Muslim faith.
It is hard to figure out what the Tea Party and the extreme right wing of the Republican Party are for. They are against so much, funding new jobs, and they are against funding infrastructure. They are darn right unpatriotic.
We need to keep the Export/Import Bank going. They fulfill a need when it comes to helping our exports. They have been committed to helping small businesses get funding for years. John Boehner wants to re-charter the bank before he retires. I wish him luck!