So Much for Being the Party of Jobs and Business

Last Tuesday night, at midnight, House Speaker John Boehner (R-Ohio) and his Republican dominated chamber allowed the U.S. Export-Import Bank charter to expire after 81 years, despite its having been renewed numerous times in its history without controversy. 

The bank was created in 1934 during the Great Depression for the purpose of assisting American businesses in expanding into international markets by underwriting loans to help foreign customers purchase U.S. goods. 

America's business community is definitely NOT happy; some have leveled the accusation that Republicans do not know what they're doing.

Aric Newhouse, a senior vice-presient at the National Association of Manufacturers called it "a critical blow to manufacturers."

Don Nelson, president of ProGauge Technologies said he had met with House Majority Leader Kevin McCarthy (R-California) to plead for the continuation of the agency.  "Truth be told, he has zero experience or knowledge on the topic and yet he and other misguided congressmen portray they're experts on this topic and say the private sector can take over.  They really don't have a clue what they're doing or the damage they're going to inflict on small businesses in America by closing the Ex-Im bank."

The Seattle Times reacted, "Jobs will be lost.  Companies will go out of business.  Boeing, Caterpillar and General Electric will lose an important tool to level the international playing field (for every major nation has its version of the Ex-Im Bank), but they will survive.  The same can't be said for many of the 200 or so smaller companies helped by the agency.  Many will be entirely shut out of the export markets vital to their survival." 

Even Fox seem unhappy with the House's lack of action.  "Conservatives cheered the demise of the federal Export-Import Bank Tuesday and vowed to beat back efforts to revive it, even as business leaders issued dire warnings that letting the agency expire at midnight would hut U.S. competitiveness globally. Under pressure from tea party-backed conservatives, GOP congressional leaders and presidential candidates have lined up against the bank, defying their traditional allies in the business community who support it."

Richard Weening, CEO of Prolitec a scent company said his company grew from two to 60 employees thanks to the boost he got from the Export-Import Bank.  With the contacts his company has, he believes they will survive, but added,  "I'm sure there are lots of small companies in Wisconsin and Washington and all over the country that will not.  So I think this whole idea of not renewing Ex-Im Bank must be a misunderstanding.  There has to be something else going on because, on the merits, this is the only job development program that I know of, the only business development program that I know of, that actually works."

what eye thynk:  There's "something else going on" alright, Mr. Weening.   It's called money--and small business owners like you don't have enough.   The business community, especially the small business community that relies on agencies like the Export-Import Bank, simply can't compete with the dollars thrown around Washington by the Kochs.  When a politician sees a dollar sign, the more zeroes lined up behind it the better.  Not enough zeroes and your voice becomes inaudible.  

As for Congress' deliberate failure to renew the Export-Import Bank's charter, the only "misunderstanding" in evidence is among business owners and job seekers who still believe the GOP is in their corner.

Backed with Koch money, tea party conservatives pressured Speaker Boehner into allowing the bank to fold simply by failing to call for a vote in the full House.. Mr. Boehner, in another example of ineffective leadership, acquiesced and congressional representatives left Washington for the July 4 holiday having taken no action on the issue and allowing the bank's charter to expire.

Senator Rubio spoke during a conference call organized by the Koch brothers' Freedom Partners, warning that the bank issue will undoubtedly "rear its head once again" when Congress returns to work.  "Ex-Im still benefits a few large politically connected corporations at the expense of all taxpayers.  The only thing that's changed..is the intensity of the grassroots effort on this critical issue and that's why their voice is going to be needed more than ever now."

Only a Republican firmly in the thrall of Koch money could call the billionaire brothers' campaign to close the Export-Import bank a "grassroots effort."  Though I have to admit some admiration for the loud and proud way Mr. Rubio inferred that America's small businesses were merely "politically connected" entities getting a sweet deal while completely ignoring the political connections enjoyed by the Koch brother to politicians like the Senator himself.  And he did it on a conference call paid for with Koch money. 

Now that's chutzpah.