In The News

By Baylor Myers
AFP Ohio Deputy State Director

COMMENTARY – Today, the crony Export-Import Bank has expired and will no longer be funded.

This is a huge victory for taxpayers across the country, but specifically those here in Ohio who made their voices heard against re-authorization of the corporate welfare scheme.

For too long, Ohio taxpayers subsidized an institution that has been connected with controversy and fraud. With this expiration, we should all feel relieved that our hard-earned money is no longer going to well-connected foreign and national corporations.

We applaud our congressional delegation for letting this bank expire.

We specifically thank Second District Congressman Brad Wenstrup for his bold decision to change course and publicly disavow the bank.

Our activists were extremely engaged on this issue and it is great to see their hard work rewarded.

Since April 2014, Americans for Prosperity has aggressively opposed re-authorization of the Ex-Im Bank, noting it lacked transparency and risk management, had descended into a culture of corruption, cost taxpayers billions of dollars, and ultimately favored the powerful over innovators and small businesses.

The organization’s staff and volunteers launches hundreds of thousands of direct mail pieces, phone banked and made congressional office visits to convince lawmakers it was time for the bank to go. A spokesman said some 40,000 Americans signed a petition to oppose reauthorization at break-the-bank.org, and another 20,000 called their lawmaker.

Americans for Prosperity led a coalition that brought together more than 30 organizations to oppose the bank’s reauthorization. The coalition sent numerous letters to Congress outlining their arguments against reauthorizing the bank.