House GOP leader-elect Kevin McCarthy: Let the Export-Import Bank die

posted at 7:21 pm on June 23, 2014 by Erika Johnsen

Wow. Maybe the GOP leadership actually picked up on some of the anti-crony capitalism/corporate welfare sentiment reverberating off of Eric Cantor’s primary defeat after all, because back in 2012, McCarthy voted to reauthorize the Export-Import Bank — but this outright acquiescence to the growing campaign to let the bank’s charter expire for good on September 30th is not going to be a welcome development for a lot of K-Streeters. The relevant Export-Import question comes in just after the six-minute mark:


CHRIS WALLACE: Authority for the Export-Import Bank, which backs, supports, helps encourage, the selling of U.S. products overseas, expires in September. Do you agree with conservatives who say that the Export-Import Bank is a form of crony capitalism that should be put out of business? Allowed to expire?

KEVIN MCCARTHY: One of the biggest problems with government is that they go and take hard-earned money so others do things that the private sector can do. That’s what the Ex-Im Bank does. The last authorization with the Ex-Im Bank directed the president and the treasury secretary to wind down the Ex-Im bank, negotiate with the other countries to wind them down so we have a level playing field. We’ve got hearings going on next week in Financial Services, which I sit on. I think Ex-Im Bank is one that’s something government does not have to be involved in. The private sector can do it.

CHRIS WALLACE: So, straightforward question, you can say right here. You would allow the Ex-Im Bank to expire in September?

KEVIN MCCARTHY: Yes, because it’s something that the private sector can be able to do.


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Big news if true. But somehow I think he will find a way to justify a yes vote for continuing the program.

Nessuno on June 23, 2014 at 7:24 PM

hmmm… sounds like a squirrel.

Who’s concerned about the ExIm?

faraway on June 23, 2014 at 7:25 PM

Wow. Maybe the GOP leadership actually picked up on some of the anti-crony capitalism/corporate welfare sentiment reverberating off of Eric Cantor’s primary defeat after all,

If one death in the family is all it takes to make a single conservative move, then we need a massacre.

nobar on June 23, 2014 at 7:25 PM

If one death in the family is all it takes to make a single conservative move, then we need a massacre.

nobar on June 23, 2014 at 7:25 PM

heh

msupertas on June 23, 2014 at 7:29 PM

If one death in the family is all it takes to make a single conservative move, then we need a massacre.

nobar on June 23, 2014 at 7:25 PM

A cull

portlandon on June 23, 2014 at 7:32 PM

Did we just accomplish a “conversion by the sword”?

Count to 10 on June 23, 2014 at 7:33 PM

Eat crow Bill Kristol. again. lol

coolrepublica on June 23, 2014 at 7:35 PM

I smell a rat. Something to do with amnesty, maybe?

conservative hispanic on June 23, 2014 at 7:42 PM

hmmm… sounds like a squirrel.

Who’s concerned about the ExIm?

faraway on June 23, 2014 at 7:25 PM

The Kronies: Laughing All The Way to the Export-Import Bank

Grammar Nazi on June 23, 2014 at 7:50 PM

We’ll import your 3rd world, disease-riddled immigrants, but we ain’t gonna export ‘em!

SouthernGent on June 23, 2014 at 7:58 PM

OT: Breaking: The reason IRS didn’t retain emails was because of budget problems…Had they had more money they would have those emails available now….

d1carter on June 23, 2014 at 8:01 PM

OT: 7.9 Quake in Alaska,

lineholder on June 23, 2014 at 8:03 PM

Maybe the GOP leadership actually picked up on some of the anti-crony capitalism/corporate welfare sentiment reverberating off of Eric Cantor’s primary defeat after all, because back in 2012, McCarthy voted to reauthorize the Export-Import Bank — but this outright acquiescence to the growing campaign to let the bank’s charter expire for good on September 30th is not going to be a welcome development for a lot of K-Streeters.

Erika, you portray McCarthy here as flip-flopping because of public sentiment.
And most of the comments here bought into that misrepresentation of the facts.
McCarthy himself explained how this accusation seems to be quite inaccurate:

The last authorization with the Ex-Im Bank directed the president and the treasury secretary to wind down the Ex-Im bank, negotiate with the other countries to wind them down so we have a level playing field.

He says he voted for the authorization only because it was going to eventually do away with the Ex-Im Bank.

Now if he has voted for it in the past without such a phasing-out provision, you may have a point, but you should have reported that here if that’s true.
As it is, your assertion appears to be very wrong.
Let’s let the Dems do the attacking of conservative actions, OK?

itsnotaboutme on June 23, 2014 at 8:07 PM

OT: Breaking: The reason IRS didn’t retain emails was because of budget problems…Had they had more money they would have those emails available now….

d1carter on June 23, 2014 at 8:01 PM

The Dems are really embarrassing themselves during the IRS hearings. Just awful.

Whoa.

Fallon on June 23, 2014 at 8:14 PM

Sounds good.

As long as it isn’t replaced with something like…say…the Import/Export Bank….

ChrisL on June 23, 2014 at 8:21 PM

Wow. Maybe the GOP leadership actually picked up on some of the anti-crony capitalism/corporate welfare sentiment

Oh please Erika. You are not that stupid.

The headline here should be “newly elected leader seeks support from conservatives.”

Happy Nomad on June 23, 2014 at 8:23 PM

OT: Breaking: The reason IRS didn’t retain emails was because of budget problems…Had they had more money they would have those emails available now….

d1carter on June 23, 2014 at 8:01 PM

The Dems are really embarrassing themselves during the IRS hearings. Just awful.

Whoa.

Fallon on June 23, 2014 at 8:14 PM

Surprised they didn’t use the sequester…

TIdbIT on June 23, 2014 at 8:24 PM

I will believe it when I see it.

Bmore on June 23, 2014 at 8:28 PM

He will allow the democrats to pass it with as many republican as needed. Export-Import-Bank will continue.

Either that or he will include the funding of the export-import bank into another important bill at the last second.

Kevin Mccarthy will act surprised it was included in the bill.

It will not die, Kevin Mccarthy will make sure of it.

BroncosRock on June 23, 2014 at 8:29 PM

Out: Import-Export Bank

In: McCarthy Bank and Trust

Folks, it will still cost us the same amount, probably more. The government never, ever, stops spending money. Ever.

BobMbx on June 23, 2014 at 8:30 PM

One of my neighbors defrauded it for years. At least he did get caught, and went to prison.

juliesa on June 23, 2014 at 8:31 PM

Lots of funneled money from our pockets to 0.1%ers. It will stay.

jukin3 on June 23, 2014 at 8:41 PM

One of my neighbors defrauded it for years. At least he did get caught, and went to prison.

juliesa on June 23, 2014 at 8:31 PM

Must not have paid his DNC “dues” on time, if at all…

TIdbIT on June 23, 2014 at 8:43 PM

ill believe it when I see it. Bmore on June 23, 2014 at 8:28 PM

Yep. He was on Hannity today. He didn’t make make the sale.

Sounded good, but we’ve seen it before.

I don’t trust him.

wolly4321 on June 23, 2014 at 8:49 PM

House GOP leader-elect Kevin McCarthy: Let the Export-Import Bank die

While letting the Export-Import Bank die is probably a good thing, I’m guessing it’s only in the top one thousand things that the Republican voting base care about.

What are they going to do about securing our borders, enforcing our immigration laws, cutting spending and prosecuting those involved in illegal activities such as operation Fast & Furious or the IRS scandal? With the IRS on or about to be on the ropes, how disbanding the IRS and putting in place a fair and simple tax system?

RJL on June 23, 2014 at 9:04 PM

Wow is right … WTH?

Jaibones on June 23, 2014 at 9:35 PM

Who are you and what have you done with RINO McBoehner?

Jaibones on June 23, 2014 at 9:35 PM

I will believe it when I see it.

Bmore on June 23, 2014 at 8:28 PM

Might be one of those D.C. calculations — “I can propose this and get on my hobby horse, cause it ain’t never gonna happen.”

Jaibones on June 23, 2014 at 9:37 PM

Lip service. Stalling until the dust settles, then back to business as usual.

ghostwalker1 on June 23, 2014 at 9:59 PM

If this actually happens, I will rethink my opinion of this man.

Irritable Pundit on June 23, 2014 at 10:04 PM

The EX-IM is a sewer of corruption, and has been for years.

Ward Cleaver on June 23, 2014 at 11:20 PM

Eat crow Bill Kristol. again. lol

coolrepublica on June 23, 2014 at 7:35 PM

…he would have to salt and pepper you!

JugEarsButtHurt on June 23, 2014 at 11:43 PM

I attend an EXIM Conference in DC a few years ago. Bill Clinton, Rahm Emmanuel and John Huntsman all spoke. Many business leaders were there. To me, the whole thing was about justifying the existence of that org much like a non-profit does.

I was actually surprised a conference could be run by a government entity, I don’t know if any tax-dollars were used, they might be self-funded through the loans – whose sole-purpose seemed to be self-justification, no joke. All the corporate folks were folks that got those loans.

At the conference people joked EXIM was the Boeing Bank because they get half of the loans.

I suppose the argument we have to answer is this: if every other country has a bank like this and we don’t, do our vendors lose and the other country buys Airbus instead of Boeing. Get it?

timoric on June 24, 2014 at 7:40 AM