Tuesday, Sep 30, 2014
Quincy, IL News - QuincyJournal.com
Trending on the Journal

Recent Comments

QyFiredUp - Quincy Police Blotter for September 30, 2014 - Quincy, IL News - QuincyJournal.com
Had to look it up: (625 ILCS 5/11-803) (from Ch. 95 1/2, par. 11-803) Sec. 11-803. Starting parked vehicle. No person shall start a vehicle which is stopped, standing, or parked unless and until such movement can be made with reasonable safety. (Source: P.A. 76-1586.)
1950Brutus - Quincy Police Blotter for September 30, 2014 - Quincy, IL News - QuincyJournal.com
Does anybody know what "improper starting" is??
ONCEMORE1 - Practice of end-of-career teacher salary bumps being scrutinized - Quincy, IL News - QuincyJournal.c
Remember, that "year" is nine months long and has about as many vacation days and holidays as most people get in a real year. Kinda changes the perspective of $45,000.......
EgoReputo - Iowa company pitches Newcomb development proposal - Quincy, IL News - QuincyJournal.com
Why all the skepticism and naysayers? Isn’t this latest, greatest New Newcomb deal right in line with “Building for Quincy”? Who cares if this $89 million bond referendum (which will actually cost the taxpayers about $133 million in debt service) is nothing but a sham? Remember, it’s “For The Kids”. Fancy new buildings do such a wonderful job teaching kids. Just ask the soon-to-be enriched architects,…
Stupid_Dems - Iowa company pitches Newcomb development proposal - Quincy, IL News - QuincyJournal.com
I'd like to see a spreadsheet on the city's payback. Seems to me we would be better off selling the lot to the highest bidder at auction. Then we get the property tax and sales tax on any construction with out anymore investment. The city needs to stay out of the business world as their track record is not great. This property is not costing the city anything but the mowing so there is no…

Most Popular

Study finds reasons Springfield Diocese Catholics have left the Church

Inquest and Investigation: Curtis Lovelace didn't call 911 immediately or attempt CPR on wife Updated

QU gets $1.5 million from the state Updated Video

Quincy man arrested in Hannibal on drug charges

Quincy School District unveils District digital conversion plan

Lovelace pleads Not Guilty

Practice of end-of-career teacher salary bumps being scrutinized

Emanuel pushes for decriminalizing marijuana statewide Video

U.S. small businesses lobby for survival of embattled Ex-Im Bank

3 months ago by Bryan Nichols

Rep. Adam Kinzinger says he's worried about "libertarian theology"

If the battle over the U.S. Export-Import Bank is Washington's latest political tempest, then Don Nelson from Bakersfield, California is aiming at the eye of the storm.

Nelson's small oilfield equipment company is part of new House Majority Leader Kevin McCarthy's district, and he wants the suddenly powerful politician to know that the Republican right's war on what it sees as "crony capitalism" at the export credit agency could claim hometown casualties.

"It would be a disaster for our company," if the Ex-Im Bank is shuttered as McCarthy and a faction of House Republicans hope, said Nelson, president of ProGauge Technologies, Inc., who said he voted for McCarthy.

With two-thirds of his business and perhaps half of his company's 100 jobs dependent on deals Ex-Im helps finance, "I need to meet with Kevin McCarthy and let him know, this is not a good thing for America."

The 80-year-old bank provides about $37 billion a year in direct loans to foreign buyers of U.S. products, credit guarantees to American companies and credit insurance to aid exports. Critics, including the House Tea Party caucus, say it unduly benefits insiders who know how the system works.

Ex-Im's fate may hinge on the success Nelson and other small entrepreneurs have in convincing their lawmakers that the agency isn't just a sink where tax money disappears into global companies like Boeing, Corp. It aids the very small businesses that Republican critics say are being put at a competitive disadvantage by the program.

The bank has had mixed success on that front. It has missed its own internal targets for small business lending and much of its activity does support mega-companies like Boeing Co and Caterpillar Inc that would arguably fare just fine on their own.

But the bank reaches further than just financing airplanes and mining trucks, and hundreds of businesses and groups from across the country have been mobilized in what is probably Ex-Im's best chance of survival.

Steered by Washington's corporate and lobbying elite, the campaign has reached far into the countryside.

The 90,000 folks in Idaho's rural Bannock County aren't big exporters -- yet. But Pocatello-Chubbuck Chamber of Commerce President Matt Hunter said they are trying to lure firms to set up operations in the county that would likely want access to the export financing that Ex-Im Bank provides.

"I have already sent the emails," to Idaho's all-Republican congressional delegation, Hunter said.

 

"MADE IN THE USA"

As Washington agencies go, the Ex-Im Bank is small potatoes.

The most unfavorable interpretation of its finances is that it costs taxpayers a net of around $200 million a year, and its deals cover only 2 percent of U.S. exports. It does charge for its services -- helping overseas buyers acquire U.S. exports or aiding companies like Nelson's post collateral for deals -- and by its own accounting turns a profit.

While much of the lobbying is being led by movers and shakers at the U.S. Chamber of Commerce, the Aerospace Industries Association, the Financial Services Roundtable, the Nuclear Energy Institute, and a host of other major industrial groups others are also pushing back hard.

There are divisions within the Republican party over whether to allow the bank to live on. The U.S. Congress is debating whether to reauthorize it, and some congressional leaders like McCarthy want to let the authorization expire this fall.

Republican Representative Adam Kinzinger from northern Illinois said he worried about "a libertarian theology that's really starting to creep in." If the bank disappears, he said, it could damage U.S. competitiveness as well as small businesses in his district.

"We're for limited government, we're not for no government."


From the Newsroom

nichols120 on Twitter

nichols120 6 minutes ago

RT @MorningMeeting1: Mayor Kyle Moore @mooreforquincy joins us today. Also, Jeff Roe of @AxiomStrategies. 10 am ct on @930amWTAD and http:…
Bob Gough on Twitter

Bob Gough 8 minutes ago

RT @theblaze: Wisconsin reporter “creeped out” by what Michelle Obama aide allegedly told her while covering a speech: http://t.co/rEcGlS2p…
Bob Gough on Twitter

Bob Gough 10 minutes ago

RT @carolmswain: President Obama has missed over half of his intelligence briefings, but somehow managed to find time for golfing... http:/…
Bob Gough on Twitter

Bob Gough 1 hour, 8 minutes ago

RT @TheCatOnFox: Facing Clayton Kershaw is a scary proposition. His career numbers against the Cards however (5-5 3.46) aren't that fright…