All six House Republicans in the New York congressional delegation, however, back reauthorization, along with all delegation Democrats.
Republican Rep. Tom Reed of Corning said the bank “gives U.S. manufacturing companies the tools they need to make it here and sell it there and keep those jobs here in the U.S.”
“To unilaterally kill the Export-Import Bank would be a huge hit to the competitiveness of American companies,” Reed said.
This view puts Reed at odds with more conservative House Republicans. The article cited notes:
Conservative House Republicans who are blocking a vote on reauthorization — led by House Financial Services Committee Chairman Jeb Hensarling of Texas — say taxpayers shouldn’t be underwriting risky deals that commercial banks won’t. They argue that the Ex-Im Bank is rife with “crony capitalism,” and the free market will operate more efficiently if its charter expires.
The interests of NY-23 businesses trump conservative principles for Tom in this case evidently. If GOP misleaders refuse to allow a vote, Tom will be spared the embarrassment of having to cast a vote.
© William Hungerford – August 2014