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IPFS News Link • Trump Administration

Trump's Disappointing Flip-Flop on the Export-Import Bank

• fee.org by Diane Katz

As bad as this flip-flop is, his excuses for doing so are downright pitiful.

As a candidate in August 2015, Trump categorized the bank as "feather bedding," adding, "I don't like it. I think it's a lot of excess baggage. I think it's unnecessary. And when you think about free enterprise, it's really not free enterprise."

He was right, of course, but that was then.

On Friday, the president announced his intention to nominate former New Jersey Rep. Scott Garrett as bank president and former Rep. Spencer T. Bachus III to the Ex-Im board.

If the two are confirmed, the bank will return to full operation after 21 months without a board quorum—which prohibited deals exceeding $10 million.

And that means billions of taxpayer dollars to foreign firms and foreign governments with which to purchase exports from favored multinational companies such as Boeing, General Electric, and Caterpillar.


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