I don’t have much time to get my thoughts down on this because I am about to read Rush Revere and the Brave Pilgrims to my kids before I head out to my night job, but Gov. Rick Perry, who is expected to his announce his intention to run for the GOP nomination by June 1, has penned an op-ed in the Wall Street Journal explaining why he has changed his position and now believes it is time to end the Export Import Bank.
After a bit of background on what he was able to accomplish during his 14 years as Governor of Texas, a bit of well deserved bragging, and a reiteration of his philosophy of tax reform, regulatory reform, and debt reduction through responsible spending, Governor Perry dealt with why he has decided now, after having supported the ExIm reauthorization in 2014, is the time to “terminate Ex-Im.”
We won’t have the moral credibility to reduce corporate taxes if we continue to subsidize corporate exports for corporations that already enjoy low effective tax rates, like General Electric and Boeing. We won’t have the moral credibility to reform government programs that benefit future retirees if we don’t first reform government programs that benefit big businesses like Caterpillar. We won’t be able to give businesses more regulatory latitude if we continue to operate a government bank with an emerging record of corporate corruption.
And that is why the time has come to end the Export-Import Bank. We can’t let Ex-Im get in the way of reforms that would expand opportunity for all Americans.
This is a wonderful combination of good policy and good politics.
The termination of the Ex-Im is not only important to clearing the road for the reforms that will help our economy rise from its current lows. No, it is also an important statement to the American public, the middle class, that the GOP under a Perry administration wouldn’t be about crony capitalism and kickbacks for large corporate entities.
This is a nice bit of populist, conservative, politics and policy.
Well done Governor.