On October 27, 2015 Trent Kelly voted “Yes” on H.R. 597 against a wave of Democrat and Conservative outcry. It is not often these two groups owhich was not received by the Washington establishment.
This bill’s seeks to resurrect the Export – Import Bank (aka “The Bank of Boeing”). Along with Kelly the entire Mississippi Congressional delegation voted in favor of the bill (Mississippi status quo). The bill was passed and is now moving on to the Senate. All but one Democrat joined 127 Republicans in support of the Export-Import Bank (Ex-IM Bank) reauthorization. It is the opinion of many in the First District this institution is pure Corporate Welfare and Cronyism with our Congressman Kelly right in the middle of it.
The EX-IM Bank was created in 1934 with an “executive order” to bypass Congress by then Democratic President Franklin Roosevelt (sound familiar). The resurrection of the Ex-IM Bank took a rarely used procedure (motion to discharge) which bypassed the Financial Services Committee. Cronyism and the circumventing of inconvenient procedures are common bed-fellows.
The bank has been carried on over the years in support of large corporations (80%) vs. Small business (20%). Its purpose within the Executive Branch is to guarantee loans around the world considered at such high risk the private sector would not support them. The logic being if the American People did not accept this high fiscal risk loan then the business transaction would not take place. Paul Clever has a problems with this because of the wordings “the American People” and “high fiscal risk”. The people of Mississippi’s First District did not elect Trent Kelly to support this kind of Global Cronyism. It seems with Kelly’s help the large corporations are reaping the profit and the American people are carrying the burden of the high risk loan guarantee.
Paul Clever does not support the Ex-IM Bank because it creates a conflict between the government sector and the private sector, saddles the American People with high risk loan guarantees with no benefit, the bank operates at a substantial loss, and the whole deal smacks of crony politics.
f the American population agree fervently on a subject. A point