Buck Leads Fight to Protect American Workers and End Corporate Cronyism

Press Release

Congressman Ken Buck (R-CO) led a special order hour Thursday to call for the end of the Export-Import Bank of the United States. He was joined by Congressmen Jim Jordan (R-OH), Dave Brat (R-VA), and Alex Mooney (R-WV). Each member made a strong case against the corruption, fraud, and cronyism that are perpetuated by the Ex-Im Bank. Congressman Buck released the following statement following the special order hour:

"The Export-Import Bank is a corrupt federal agency. I want to thank my colleagues for standing with me today against its reauthorization. We know that it is a hard battle to fight. Politically favored companies receiving subsidies don't want to lose them. But there have been far too many instances of corruption and fraud at the Bank for Congress to renew its charter."

The Export-Import Bank is the official export credit agency of the United States. It provides taxpayer-backed loans and loan guarantees to foreign companies for the purchase of American goods and services. Between October 2007 and March 2014 alone, there were 124 investigations linked to corruption surrounding the Ex-Im bank. This includes some 792 separate claims involving more than $500 million dollars. The Ex-Im Inspector General also revealed last week that 31 other Ex-Im Bank employees are currently being investigated for fraud.

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