The Koch Brothers Just Launched a Lobbying Campaign to Eliminate an Obscure Government Agency. Here’s Why.
By DANIEL SCHULMAN
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.
“The Ex-Im Bank is yet another example of the government intervening in the market to pick winners and losers,” Ellender writes. “It confers benefits granted by the American people as a whole to a small number of well-connected corporations. It socializes the risk of economic activity while benefiting relatively few companies.”