Mother Jones
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Koch Industries has officially entered the contentious fight over the fate of the Export-Import Bank, the independent government agency that guarantees loans and provides financing to companies doing business overseas and foreign businesses buying American products—and that has recently become a target for conservatives and libertarians who decry big-government crony capitalism.
On Tuesday, the industrial conglomerate run by billionaire brothers Charles and David Koch sent a letter to Congress urging lawmakers to oppose the reauthorization of this obscure, 80-year-old institution, which otherwise will expire at the end of June. Signed by Philip Ellender, the president of Koch’s government affairs arm, the letter signals the start of a Koch lobbying effort aimed at shuttering the New Deal-era agency. The Ex-Im Bank has been living on borrowed time since September, when Congress temporarily extended its charter. But now Koch Industries wants Congress to eradicate the agency for good.
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