Maine Delegation Divided Over Export-Import Bank

Jul 24, 2015

WASHINGTON - Since it was created in the 1930's, the Export-Import bank has provided financing to U.S. companies - including many in Maine - to export goods all over the world.

The bank's authorization ran out last month and there is an attempt to revive it in the Senate. Republican 2nd District Congressman Bruce Poliquin  opposes  continuing the bank, saying it has been plagued by corruption.

"I don't think it is right in the name of economic growth for any government agency to resort to corruption and fraud, picking winners and losers and also putting the taxpayers on the hook for bailouts," Poliquin says.

But the other three members of Maine's congressional delegation, Republican Sen. Susan Collins, independent Sen. Angus King and Democratic 1st District Rep. Chellie Pingree, all support the bank.

King says the opposition of House Republicans is based on ideology and not on what the bank has accomplished.

And Collins says other countries have similar banks. "We have got to have a level playing field. If every other country does away with their equivalent of the Ex-Im bank than we wouldn't need an Ex-Im bank, but that isn't going to happen," she says.