The Export Import Bank died ten days ago. It needed to be reauthorized by Congress to continue in existence, and it was not. That won't mean much for the average American. The Ex-Im Bank was more of a slush fund for federal subsidies to the well connected than anything else. Still, there is a strange coalition in Congress that is not giving up.
Right now, there is a move among Democrats to attach reauthorization of Ex-Im to a funding bill for highway construction. That highway bill covers only six months because a long term funding bill is too complicated and contentious to be finished before the funding runs out. It is a stop gap measure to handle an impending problem. To say the least, it is not good that Congress can't even get its act together to fund the highways, but it is even worse that some members want to use the short term fix to wangle reauthorization of the Ex-Im Bank so that their friends can still get government subsidies.
What we really need now is for the leaders in Congress to just say no to attaching the Ex-Im Bank to this short term highway measure. Congress should govern, not just take orders from the big money folks.
Right now, there is a move among Democrats to attach reauthorization of Ex-Im to a funding bill for highway construction. That highway bill covers only six months because a long term funding bill is too complicated and contentious to be finished before the funding runs out. It is a stop gap measure to handle an impending problem. To say the least, it is not good that Congress can't even get its act together to fund the highways, but it is even worse that some members want to use the short term fix to wangle reauthorization of the Ex-Im Bank so that their friends can still get government subsidies.
What we really need now is for the leaders in Congress to just say no to attaching the Ex-Im Bank to this short term highway measure. Congress should govern, not just take orders from the big money folks.
No comments:
Post a Comment