In recent years, there has been a groundswell in the number of Ex-Im critics. Boeing and its lobbyists have responded by arguing that Ex-Im is essential to its operations. Yet, when the federal government shutdown and the Ex-Im Bank was forced to cease its operations, Boeing somehow managed to get by and the same would be true if the Bank’s charter is revoked.
Members of Congress have also kept a keen eye on Ex-Im Bank, renewing the Bank’s charter on the condition that before approving any deal, the Bank must analyze the economic impact of its transaction on American businesses. Unfortunately, as the Washington State Legislature subsidy and the continuation of Ex-Im loans to foreign airlines prove, Boeing’s lobbyists are simply too powerful and many elected officials too weak.
Members of Congress should take a stand and revoke Ex-Im Bank’s charter, so that Boeing can no longer take advantage of its insider connections and extort billions of dollars from the Bank, all the while leaving the American taxpayer on the hook for the guaranteed loans while losing thousands of precious jobs.