House Votes Down Measure That Would Block Iran From Receiving Taxpayer-Backed Subsidies (Video)

House Votes Down Measure That Would Block Iran From Receiving Taxpayer-Backed Subsidies (Video)

“I think we can all agree, Ex-Im supporters and opponents alike, that Iran should not be entitled to American taxpayer-financed aircraft deals,” said Ed Royce, R-Calif., chairman of the Foreign Affairs Committee. 

He introduced the amendment because of concerns that President Barack Obama would issue waivers to state sponsors of terrorism that would allow them to receive taxpayer-backed subsidies from the government bank.

Royce_111505

take our poll - story continues below

What is your top alternative to Facebook? - FIXED

  • What is your top alternative to Facebook?  

  • This field is for validation purposes and should be left unchanged.
Completing this poll grants you access to Truth Uncensored updates free of charge. You may opt out at anytime. You also agree to this site's Privacy Policy and Terms of Use.

The Daily Signal Reports:

The House today rejected an amendment that would have prohibited the Export-Import Bank from providing loans, loan guarantees, and credit to state sponsors of terrorism such as Iran.

Rep. Ed Royce, R-Calif., chairman of the Foreign Affairs Committee,  introduced the amendment amid concerns that President Barack Obama would issue waivers to state sponsors of terrorism that would allow them to receive taxpayer-backed subsidies from the government bank.

Republicans, however, helped Democrats defeat the amendment, 244-183.

“Some parts of U.S. law, most notably in the Foreign Assistance Act, does prevent Ex-Im from engaging with state sponsors of terrorism,” Royce said on the House floor. “But these commonsense prohibitions are subject to presidential waivers, and we have seen the president abuse waivers to pursue his agenda over and over again on Iran.”

Royce called on Congress to close the “loophole” that would allow the president to make such exceptions.

“I think we can all agree, Ex-Im supporters and opponents alike, that Iran should not be entitled to American taxpayer-financed aircraft deals,” Royce said.

The measure went down with 181 Democrats and 63 Republicans voting against it.

Congress allowed the charter of the Ex-Im Bank to expire in June, citing examples of cronyism, but efforts are afoot among lawmakers to revive the government bank.

Photo:  Bing


 

Join the conversation!

We have no tolerance for comments containing violence, racism, vulgarity, profanity, all caps, or discourteous behavior. Thank you for partnering with us to maintain a courteous and useful public environment where we can engage in reasonable discourse.