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Big Business Steps Up Pressure to Keep Export-Import Bank Alive

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

With the clock ticking to end government funding of the Export-Import Bank, big business is stepping up the pressure to keep the bank alive.

Support of Ex-Im will stop on June 30 unless Congress passes legislation to keep it going.

Knowing it must make Congress act to maintain big business subsidies for their customers overseas, business trade groups and individual companies are swinging into full lobbying panic mode.

Leaving no stone unturned, lobbying pressure is being wielded in Congressional districts and in Washington, D.C.

Senator Ted Cruz (R-TX), an ardent opponent of Ex-Im, was the target of Houston business leaders that want to him to support the bank.

Honeywell, a beneficiary of Ex-Im, hosted an event that included Ex-Im Bank Chairman Fred P. Hochberg and Representative Markwayne Mullin (R-OK) at its manufacturing facility in Oklahoma. The purpose of the meeting was to highlight the benefits of the bank to the local community.

On the national level, the U.S. Chamber of Commerce and the National Manufacturers Association facilitated a lobbying fly-in to Washington, D.C. the last week in February to pressure Congress. Almost 700 businesses participated in the lobbying effort to keep the bank.

Senator Lindsay Graham (R-SC) told these businesses that, “There’s no way in hell I’m going back to South Carolina and say, ‘Hey we shut down a bank because people ideologically objected to the bank and the reason you’ve lost these plants is because companies overseas doing the exact same thing have a bank.’”

Boeing and General Electric are two of the biggest recipients of the bank and have manufacturing facilities in South Carolina.

Led by Representative Jeb Hensarling (R-TX), tea party backed Congressmen that oppose the bank are certainly facing an up hill battle to end a big business subsidy.

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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