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U.S. Representative Justin Amash

Representing the 3rd District of Michigan

Amash introduces bill to eliminate the Export-Import Bank

March 27, 2019
Press Release
FOR IMMEDIATE RELEASE
March 27, 2019
 
CONTACT
Poppy Nelson
(202) 225-3831
poppy.nelson@mail.house.gov
 

Amash introduces bill to eliminate the Export-Import Bank
H.R. 1910 ends the crony bank that subsidizes big corporations at taxpayer expense

WASHINGTON, D.C. – Rep. Justin Amash (R-Mich.) today introduced H.R. 1910 to end the Export-Import Bank. He was joined by Reps. Ken Buck (R-Colo.), Scott DesJarlais (R-Tenn.), Jim Jordan (R-Ohio), Thomas Massie (R-Ky.), and Tom McClintock (R-Calif.) as original cosponsors.

H.R. 1910, the Export-Import Bank Termination Act of 2019, shuts down the crony bank, which subsidizes loans for a few politically connected corporations, such as aircraft giant Boeing, at the expense of American businesses and taxpayers.

“The Export-Import Bank is a prime example of Washington’s addiction to political cronyism,” said Amash. “Instead of allowing businesses to compete in a free market, politicians pick winners and losers. Meanwhile, taxpayers assume the financial risk for the bank’s federally backed loans while a few corporations pocket the profits.”

H.R. 1910 phases out the Export-Import Bank over three years, eliminating billions of dollars in corporate welfare and ending the bank’s distortion of the private trade finance market.

The full text of H.R. 1910 is attached.

 

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PDF iconExport-Import Bank Termination Act.pdf

PDF icon032719AmashIntroducesBillToEliminateExImBank.pdf