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house Bill H.R. 1910

Should the Export-Import Bank be Shut Down in 3 Years?

Argument in favor

The Export-Import Bank is nothing more than taxpayer-backed corporate welfare. Export subsidies — like those provided by the Ex-Im Bank — don’t create jobs, and only fuel an international subsidy bidding war.

Allan's Opinion
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11/09/2019
It is a good idea that has been taken over for the benefit of large corps. A version of it should continue to exist but restrict it for good investments to help small and medium size companies that will return the funds loaned along with a profit to the organization
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JTJ's Opinion
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11/09/2019
This is not an appropriate function of government, and an abuse of taxpayers. Businesses that can not survive without government intervention deserve to fail.
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Brian's Opinion
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05/08/2019
The Export-Import Bank is nothing more than taxpayer-backed corporate welfare. Export subsidies — like those provided by the Ex-Im Bank — don’t create jobs, and only fuel an international subsidy bidding war.
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Argument opposed

With many of our economic competitors subsidizing their exports, failing to follow suit through the Ex-Im Bank would cost the U.S. jobs and hit small businesses the hardest. In uncertain economic times, those are consequences we can’t afford.

jimK's Opinion
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11/09/2019
I am a little torn on this issue. Yes, the EXIM bank tends to be more supportive of established and profitable corporations. Yes, the EXIM bank should operate independently from political influence. Yes, their should be more support for new businesses needed to establish foreign markets. While all of these ‘negatives’ are true, there are also some ‘positives’. From prior stats, the EXIM bank underwritten loans, have resulted in net positive returns to our treasury- with some losses some years, but overall net positive returns of 10’s of billions to the treasury (it may be much more or somewhat less, I can’t recall the specific numbers). Building foreign markets for products that require large capital investments over a long period of time carry risks that banks would rather not undertake and large fluctuations in capital reserves are something that publicly traded companies are often unwilling to take on, since it effects stock valuations and investor returns, particularly for the larger companies which tend to be predominately featured parts of 401K mutual fund packages. These companies are faced with international competitors that are directly supported by their governments to cover these risks and this puts our companies at a great competitive disadvantage without the EXIM bank- which is bad for our economy. The EXIM bank helps to level the playing field. I support the EXIM bank’s role for these long term capital investment driven products, which have historically resulted in long term returns to our county’s treasury. I do believe that some re-thinking of the EXIM bank’s charter is warranted to assure it’s independence from undue politicization and to expand it’s role in judiciously supporting new companies expansion into foreign markets. I do not support eliminating the EXIM bank without a detailed study of the longer-term consequences of so doing- which to me seem to be negative at this time.
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Phillip's Opinion
···
11/09/2019
It would seem that part of the bank is working as advertised in that it is assisting small businesses. However it certainly has become a large corporation piggy bank at the same time. Perhaps revamping the operations of the bank to stop corporations over a certain market capitalization from accessing it would be more appropriate
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Bruce's Opinion
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11/09/2019
If the Export-Import Bank really did support/assist small businesses to export U.S. goods to foreign countries that would be great. However, it seems that is not what it actually does. Seems it supplies a slush fund--I mean loans--to some the largest multi-national corporations officially based in the U.S.
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    It is a good idea that has been taken over for the benefit of large corps. A version of it should continue to exist but restrict it for good investments to help small and medium size companies that will return the funds loaned along with a profit to the organization
    Like (24)
    Follow
    Share
    I am a little torn on this issue. Yes, the EXIM bank tends to be more supportive of established and profitable corporations. Yes, the EXIM bank should operate independently from political influence. Yes, their should be more support for new businesses needed to establish foreign markets. While all of these ‘negatives’ are true, there are also some ‘positives’. From prior stats, the EXIM bank underwritten loans, have resulted in net positive returns to our treasury- with some losses some years, but overall net positive returns of 10’s of billions to the treasury (it may be much more or somewhat less, I can’t recall the specific numbers). Building foreign markets for products that require large capital investments over a long period of time carry risks that banks would rather not undertake and large fluctuations in capital reserves are something that publicly traded companies are often unwilling to take on, since it effects stock valuations and investor returns, particularly for the larger companies which tend to be predominately featured parts of 401K mutual fund packages. These companies are faced with international competitors that are directly supported by their governments to cover these risks and this puts our companies at a great competitive disadvantage without the EXIM bank- which is bad for our economy. The EXIM bank helps to level the playing field. I support the EXIM bank’s role for these long term capital investment driven products, which have historically resulted in long term returns to our county’s treasury. I do believe that some re-thinking of the EXIM bank’s charter is warranted to assure it’s independence from undue politicization and to expand it’s role in judiciously supporting new companies expansion into foreign markets. I do not support eliminating the EXIM bank without a detailed study of the longer-term consequences of so doing- which to me seem to be negative at this time.
    Like (30)
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    Share
    It would seem that part of the bank is working as advertised in that it is assisting small businesses. However it certainly has become a large corporation piggy bank at the same time. Perhaps revamping the operations of the bank to stop corporations over a certain market capitalization from accessing it would be more appropriate
    Like (18)
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    Share
    This is not an appropriate function of government, and an abuse of taxpayers. Businesses that can not survive without government intervention deserve to fail.
    Like (8)
    Follow
    Share
    If the Export-Import Bank really did support/assist small businesses to export U.S. goods to foreign countries that would be great. However, it seems that is not what it actually does. Seems it supplies a slush fund--I mean loans--to some the largest multi-national corporations officially based in the U.S.
    Like (6)
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    This is another example of Republicans trying to undo things FDR did that have worked for over 50 years and hurt small business and the average person. I have no doubt it is possible misused, but think it is better to get Rep's out of control and fix wa
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    Just because the multinational corporations who fund Congress want to eliminate competition from the small startups is no excuse to stop a program that creates millions of jobs. Stop letting lobbyists write public policy!
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    The Export-Import Bank is nothing more than taxpayer-backed corporate welfare. Export subsidies — like those provided by the Ex-Im Bank — don’t create jobs, and only fuel an international subsidy bidding war.
    Like (6)
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    The bank should be revamped to do more for small businesses. It was not intended for use by large corporations.
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    NO! Not a smart move. Shutting down the export import bank is another stab at shrinking the middle class and taking diversity of products away from entrepreneurs and small businesses. REMOVE THE TRAITOR from the White House.
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    Reform, revitalize and repurpose. We need New Deal Programs. Just remember first ExIm, then Social Security another New Deal relic. Need more be said?
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    As much as I worry that the import-export bank could hurt us if we just hand loans out to everyone, I think it is important to maintain a global market that our local businesses can be competitive in. *This vote was a hard one.*
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    Nah to shutting it down. That is all this bill is wanting to accomplish. My $0.02 is that there should be reform for the bank and make it less applicable for larger corporations and more applicable for small to medium sized businesses
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    After taking a quick look at what this agency does, and considering the fact that our export markets are weak because of the trade war, it seems we would be putting ourselves in a worse position if we can not help others buy our goods. Most other nations have agencies that do this. It seems crazy not to have one too.
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    So many of our economic competitor, such as China, subsidize their exports & tend to inflate their currency, if we fail to continue to follow suit by using the Export/Import Bank the U.S. would lose jobs and it would be hardest on small businesses Which are the heart of our economy. Economic times now are so uncertain we cannot afford those those consequences, recession or depression is probably on the way anyway with the Republicans spending us into a Trillion $$$$$ DEBIT.
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    SHUT IT DOWN NOW!
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    The way this organization is organized is only for big business and really doesn't help the small or middle-income businesses. The large manufacturers can fight for themselves and really don't need the Federal Government representing them, the money should be used to assist small and middle-income companies.
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    The import export bank also is used for loans to other countries to buy American goods and equipment. Such as Boeing airplanes, farm goods, cat, etc. will effect employment and the GDP in America both inn small and large local companies. Not a good idea to just shut it down!
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    This is a small business’s nightmare &a knife twist in the back. There are financial institutions that should be shut down many of us have been ravaged by many of them before. Fix the issues & keep it going please.
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    I'm not in favor of subsidizing rich-corporate businesses, period !
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