Nebraska State Treasurer and U.S. Senate candidate, Don Stenberg, said today that he opposes Congressional effort to reauthorize the Export-Import Bank, extending its lending capacity by billions of dollars. Stenberg called the effort another example of corporate welfare and challenged his Republican opponent, Jon Bruning, to stand with Nebraska taxpayers and oppose the measure.
Republican and Democrat leaders in Congress along with President Obama have indicated they support reauthorization through 2015 and raising its lending cap to $140 billion.
“The Ex-Im Bank was created for a very specific purpose in the 1930’s to help finance exports to the Soviet Union. But like so many other government programs, it has expanded past its original purpose and become another federal behemoth using funds backed by American taxpayers for corporate welfare,” Stenberg said.
“The Em-Im Bank has become the latest example of big government corporate welfare supported by big spenders in both parties. Will Jon Bruning stand with Nebraska Taxpayers’ or his corporate cronies in Washington D.C.,” Stenberg asked.
“I’m not going to Washington to support big business and corporate welfare. Nebraska voters will send me there to support free enterprise,” Stenberg said.
You can read the rest of this article at: http://stenbergforsenate.com/2012/04/26/stenberg-opposes-corporate-welfare/