Corporate Welfare

GOP: Green Subsidies Bad, Boeing Subsidies Awesome!

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You go to hail!

Timothy P. Carney with the latest from the crony capitalism beat:

Here's the state of Republican economic policy today: A $35 billion federal loan-guarantee program for wind and solar companies is scandalous "crony capitalism" that must be shut down and investigated.

But a $100 billion federal loan guarantee program mostly benefiting Boeing and Caterpillar should be expanded by 40 percent. […]

On Wednesday, a large majority of Republican congressmen voted to reauthorize [the Export-Import Bank] (whose current charter expires later this month) and increase to $140 billion the legal limit on taxpayer exposure from Ex-Im financing. Currently, taxpayers are exposed to nearly $100 billion in Ex-Im loans and loan guarantees.

By supporting Ex-Im, instead of trying to kill it, Republicans aren't merely calling into question the concept of free enterprise, they are passing up the chance to make President Obama's corporate welfare a central theme of the 2012 election.

Whole thing here. Reason has been criticizing the Ex-Im Bank since like forever.