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Koch-Backed Group Hits Ex-Im Despite Bank’s Support of Koch Industries

• April 2, 2015 11:50 am

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A group backed by libertarian philanthropists Charles and David Koch released two radio ads on Thursday pushing for the elimination of a federal agency that has subsidized the brothers’ company, Koch Industries.

The 30- and 60-second radio spots from the Freedom Partners Chamber of Commerce attack the U.S. Export-Import Bank, saying it subsidizes foreign corporations and governments with poor human rights records.

"We’re already 18 trillion in debt," the ad says. "We simply can’t afford to prop up foreign corporations when we’re struggling here at home. It’s time to stop the Export-Import Bank."

The bank finances the purchase of U.S. goods by foreign governments and corporations. Its supporters say it costs taxpayers little and borrowers almost always repay their U.S. taxpayer-backed loans.

However, Freedom Partners slaps a hefty price tag on the agency. "Over the next decade, it could cost American taxpayers $2 billion," one ad states.

The group’s opposition comes despite prior Ex-Im support for Koch Industries and its subsidiary Invista.

Transcript of the 60-second ad:

Today’s economy is tough. American businesses and workers are facing challenges from every side. So why is our government sending billions to foreign corporations? It’s called the U.S. Export Import Bank, and over the next decade, it could cost American taxpayers 2 billion dollars. Every year the Export-Import Bank sends your tax dollars to foreign corporations, giving them an unfair advantage over American workers. Even worse, many of these countries like China, Russia, and Saudi Arabia violate human rights and suppress freedom and democracy. We’re already 18 trillion in debt. We simply can’t afford to prop up foreign corporations when we’re struggling here at home. It’s time to stop the Export-Import Bank. Freedom Partners Chamber of Commerce is responsible for the content of this advertisement.

Thirty-second ad and transcript:

Each year, America’s Export-Import Bank sends billions of your taxpayer dollars to foreign corporations that compete unfairly with American jobs.  That’s billions, to countries like China, Russia and Saudi Arabia that violate human rights and suppress democracy.  In this economy, why should we prop up foreign corporations when we’re struggling here at home.  We shouldn’t. It’s time to stop the Export-Import Bank. Freedom Partners Chamber of Commerce is responsible for the content of this advertisement.