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The Washington Times: Oppose the Ex-Im Bank

Will this presidential election be the most important in American history?

Republican control of Congress has not slowed the influence of the DC insiders’ push for bigger government. Regrettably, Republicans are dancing with Democrats to the lobbying tune of big business special interest groups, calling for a tax increase and the renewal of the corrupt Export-Import Bank.

The Export-Import Bank increases sales of U.S. multinational corporations by providing government-backed loans, loan guarantees and other credit mechanisms to foreign based countries and companies.

The debate over the Ex-Im Bank exposes the sad truth that the alliance of elected officials from both political parties and big business remain a key barrier to limited government. The first troubling sign of collusion was when a handful of Senate Republicans started talking about backing an increase in the federal gasoline tax.

The betrayal of conservative principles over the gasoline tax was followed by 58 House Republicans that are supporting legislation to reauthorize the U.S. Export-Import Bank. The legislation (H.R. 597) introduced by Representative Stephen Lee Fincher (R-TN) would extend the bank for five years and would make changes to its operation that would reduce risk to taxpayers.

Democrats embracing taxes on gasoline is not surprising, but their backing of a big business ticket item such as the Ex-Im Bank illustrates liberal hypocrisy at its best. Populist and capitalism-bashing Senator Elizabeth Warren (D-MA), for instance, supports keeping taxpayer funding of the bank, as does President Obama.

Bipartisan support for corporate welfare and a corporatism state provides compelling evidence that in the end, it is money and power -not ideology- that drives the DC insider establishment.

Read my entire Washington Times commentary here.

Tom Borelli

Dr. Tom Borelli is a Newsmax TV contributor and radio commentator addressing political issues from a conservative grassroots perspective. As a columnist, he has written for The Washington Times and authored articles for Newsmax Magazine, Newsmax Insider and previously was a co-host with his wife Deneen Borelli on the SiriusXM Patriot channel. Dr. Borelli appeared on numerous television programs, including the highly ranked Fox News Channel’s “The O’Reilly Factor,” “Hannity,” “The Kelly File," and "America’s News Headquarters." He has also appeared on Fox Business Network’s “Making Money with Charles Payne” and “After the Bell” as well as TheBlaze TV’s "The Glenn Beck Program" and "Dana!" Prior to working for public policy organizations, Dr. Borelli was a managing partner with the investment advisory firm of Action Fund Management, LLC and a portfolio manager for the Free Enterprise Action Fund (FEAF) where he used shareholder activism to challenge corporations that sought to profit from the growth of government. During his 25 years with the Altria Group, Inc., he built a foundation in public policy and issues management, drawing from diverse experiences ranging from basic research to corporate affairs. Dr. Borelli served as science fellow for the U.S. House of Representatives' Committee on Science, Space, and Technology during the 100th Congress. Dr. Borelli has also published scientific papers on interferon and human leukemia.

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