Gwen Graham on Free Trade
End tax breaks for companies that ship job overseas
For too long Congress has told people like you and me to play by the rules while giving our tax dollars away to special interests. We must end this wasteful spending and put a stop to corporations that have become freeloaders by forcing them to finally
pay their fair share.
Instead of spending our tax dollars on handouts to the ultra-wealthy and corporations that ship jobs overseas, we should
be making targeted investments in programs that will foster economic growth for everyone--like education, small business loans and programs to incentive companies to create jobs in America.
Source: 2014 Florida House campaign website, GwenGraham.com
, Nov 4, 2014
- Stand up for small businesses by offering Made in America tax breaks for companies that create jobs at home
- Once and for all, end tax breaks for companies that ship job overseas
- Close tax loopholes that corporations use
to dodge paying their fair share of taxes
- Ending bad trade deals with countries like China and India that steal our jobs
$25B more loans from Export-Import Bank.
Graham co-sponsored H.R.1031 & S.824
This bill raises the cap on outstanding loans, guarantees, and insurance of the Export-Import Bank of the United States for FY2015-FY2022 and afterwards. The Bank shall:
- Provide technical assistance to small businesses on how to apply for financial assistance from the Bank;
- Establish programs under which private financial institutions may share risk in the loans, guarantees, and other Bank products in exchange for receiving fees received from program participants.
- The Bank may enter into up to $25 billion worth of contracts of reinsurance, co-finance, or other risk-sharing arrangements on its portfolio or individual transactions with insurance companies, financial institutions, or export credit agencies.
Opponents reasons for voting NAY: (Washington Examiner, 12/2/12): The Export-Import Bank is a taxpayer-backed agency that finances U.S. exports, primarily though loan guarantees. You'd think the bank would spread the money around to
nurture up-and-coming businesses. You'd be wrong, very wrong. In fact, 83% of its taxpayer-backed loan guarantees in 2012 went to just one exporter: Boeing. Welcome to the "New Economic Patriotism," where the big get bigger and taxpayers bear the risk. Ex-Im is at the heart of Obama's National Export Initiative and is a pillar of the economic patriotism that Obama pledged in a second term. When government hands out more money, the guys with the best lobbyists and the closest ties to power will disproportionately get their hands on that money. Obama has spent four years pushing more subsidies, more bailouts and more regulations. "New Economic Patriotism" basically amounts to a national industrial policy -- Washington championing certain major domestic companies and industries, as if the global economy were an Olympic competition.
Source: Promoting U.S. Jobs Through Exports Act 15-HR1031 on Feb 24, 2015
Page last updated: Jul 13, 2017