DeGette, Perlmutter and Polis hypnotized by B.I.G. corporate welfare bank

DeGette, Perlmutter and Polis hypnotized by B.I.G. corporate welfare bank

DENVER—Today, Colorado Reps. Diana DeGette, Ed Perlmutter and Jared Polis voted to reauthorize the Export-Import Bank. The Export-Import Bank is the notorious corporate welfare system shut down earlier this year.

Advancing Colorado Executive Director Jonathan Lockwood released the following statement:

“Today the Colorado representatives who voted to bring back the Ex-Im Bank are the same people who voted against holding the VA accountable. It is despicable that these politicians are willing to promote corporate welfare, but cannot wrap their heads around taking care of our veterans. The Ex-Im Bank should have stayed dead and shouldn’t be brought back to life, it is corrupt and dangerously funds questionable entities.”

There have been investigations linked to corruption surrounding the bank including 792 separate claims involving more than $500 million dollars. The Ex-Im acting Inspector General revealed this year that other Ex-Im Bank employees are currently being investigated for fraud as well.

The Ex-Im Bank’s Colorado failures were highly publicized when taxpayers subsidized Boulder-based solar firm, Abound, with more than $9 million so they could sell solar panels to India. That amount was on top of the $400 million loan from the department of energy. The company received its Ex-Im Bank funds right before it went bankrupt and laid off hundreds of Colorado workers, left thousands of gallons of toxic waste pooling across the state and left a long list of creditors from Longmont to Germany.

The Ex-Im Bank has also given taxpayer funds to foreign oil companies totaling billions of dollars. Through the Ex-Im Bank, taxpayer funds have gone to countries like the Congo and Sudan, both known for human rights violations. The bank has financed Chinese power plants and has given money to Russian billionaires.