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Rep. Bishop Opposes Reauthorization of Ex-Im Bank

May 21, 2015
Press Release
WASHINGTON— Rep. Rob Bishop (UT-01) feels the time for the Export-Import Bank has come to an end. The 81-year-old government corporation was organized by Executive Order and is currently operating under a charter that is set to expire on June 30th 2015. Rep. Bishop offered the following statement regarding reauthorization of the Ex-Im Bank:

"While the intent of the Export-Import Bank decades ago may have been a good one, I believe it has drifted too far off course and has missed opportunities to reform, and so the time has come to let its authorization expire. The sun has set on the utility of the bank and the rationale being presented to support it is based on antiquated arguments. The Government is not better than the free market in guiding the economy towards prosperity and so I'm concerned about the bank's interference in what should primarily be private business decisions and transactions.  Plus, there is much the Ex-Im Bank could have done to clean up its act and be more transparent.  While we must do what we can to ensure a fair playing field for American businesses, I don't feel the bank is part of that solution. If a bill emerges from the Financial Services Committee that reauthorizes the Export-Import Bank, I plan to oppose it."