Corporate Welfare

Trump Preserves the Export-Import Bank

If you're against corporate welfare, the president's budget has some good news-and a lot more bad news.


Women's eNews

When early drafts of the Trump budget started to circulate after the inauguration, the Export-Import Bank—one of Washington's most notorious corporate-welfare programs—was among the agencies destined for the chopping block. Now the actual budget is out, and the bank has been spared the ax. The Washington Examiner's Tim Carney reports that this "follows many reports from congressional fans of Ex-Im that Trump had been persuaded to love the agency, which primarily subsidizes Boeing sales." (Barack Obama underwent a similar transformation, denouncing the bank as "little more than a fund for corporate welfare" while he was running for president but fighting to preserve it once in office.)

The budget plan does have some good news for foes of corporate handouts. Carney points out that the Overseas Private Investment Corporation (which "subsidizes U.S. companies that want to set up business overseas, such as a Ritz Carlton in Turkey or a Wendy's in the Republic of Georgia") is still slated to go, as is the U.S. Trade and Development Agency. The Community Development Block Grant Program, also marked for death, has a long history of funding officials' business cronies, as my colleague Scott Shackford noted earlier today. Poke through the proposals for the departments of energy, commerce, and agriculture, and you'll find some more subsidies being cut.

But the biggest hub of crony capitalism in Washington is the military-industrial complex. And that, alas, is set to expand: Trump wants to give the Pentagon a $52.3 billion spending spike. I'm glad for any small victories against the corporate state, but in the grand scheme of things they're getting swamped.

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6 responses to “Trump Preserves the Export-Import Bank

  1. Does this mean that progressives will again oppose the ExIm Bank as being a crony capitalist institution?

    1. If Trump/GOP is for it, they are against it…
      Remains to be seen if the other cuts the progs are screaming bloody murder about actually happen. My guess is a big fat NO…In return, Trump will get to keep his overinflated defense budget.

      1. Yea so now we will have 150 billion waste instead of 125…and thats a conservative number.

        Just a few billion going to training would make our military far more competent. Its sad somehow units don;t have money to turn on vehicles or train. Going to the range once in a 4 year term…christ.

        Peacetime marine corps is the worst too. No training, no deployements…just a shit ton of hazing and working parties.

        The actual written description is also really telling on how much of a warmongering nation we have become.

    2. The article didn’t get much traction but Politico floated the rumor in January that some Dems thought Trump could be persuaded in regards to the Ex-Im. It’s a darling for the establishment left. Maybe some of the Sanders crowd denounces it but they’re fighting for any bit of relevance among the Obama and Clinton cronies left at the DNC

  2. What charm does Ex-Im have, to keep pulling off such saves?

    1. Lockheed, Boeing, and GE all get to use US taxpayer money to bribe er -market their products to foreign governments. What is there not to love?

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