CHICAGO - Illinois Congressman Rep. Aaron Schock, offered support for the Export-Import Bank, which provides taxpayer-backed loans and loan guarantees to foreign countries and companies to buy U.S. products.
Schock, who is the new deputy majority whip, says in the interview that he doesn’t “like the idea of the government subsidizing transactions.”
Ex-Im’s charter expires Sept. 30, and the debate over reauthorizing the agency has advocates and critics crossing party lines.
Many conservatives, led by House Financial Services Chairman Jeb Hensarling of Texas, find themselves aligned with “old guard” liberals such as consumer advocate Ralph Nader and Rep. Alan Grayson, D-FL, who depict Ex-Im as an engine for corporate welfare and cronyism.
