Friday, Oct 31, 2014
Quincy, IL News - QuincyJournal.com
Trending on the Journal

Recent Comments

1950Brutus - Mid-America Port Authority pledged $1.3 million from Illinois - Quincy, IL News - QuincyJournal.com
I root for the Cleve Browns even though they have zero chance of winning the super bowl. Chance of winning doesn't come into play on this obsession - doesn't come into play when I vote either. I vote for what I want - I do not "settle"..
Givemeliberty - Mid-America Port Authority pledged $1.3 million from Illinois - Quincy, IL News - QuincyJournal.com
The goal this year is not to win its to get 5% of the vote so ballot access is not an issue in four years. Right up until about a month and a half ago the Libertarians were doing little if any campaigning. They were fighting court battles the GOP brought against them. And it was the same with the Green and Constitution partys to get on the ballot. Its hard to fund raise when you can't campaign…
Stupid_Dems - Business owners split over minimum wage votes - Quincy, IL News - QuincyJournal.com
Minimum wage it for minimum employees. A person should be able to work for any wage they want too without government interference.
Stupid_Dems - Votes for Republicans switched to Democrats in Moline - Quincy, IL News - QuincyJournal.com
If the Dems contaminate the ballot box the only recourse is exactly the same as was give n the Crown!
qfingers - Mid-America Port Authority pledged $1.3 million from Illinois - Quincy, IL News - QuincyJournal.com
What we need is a better voting system...like the Borda method. Then the 3rd party candidate most assuredly would have a chance....but for just that reason you'll never see it....the controlling parties not wanting a 3rd party to have any chance. Plus it's a bit difficult to count unless you are computerized. http://en.wikipedia.org/wiki/Borda_count

Most Popular

Motorcyclist dies from Saturday crash

Mid-America Port Authority pledged $1.3 million from Illinois Video

Amazon to open facility in Illinois, hire 1,000

Quinn, Durbin to drop in Monday for Port Authority announcement

Baldwin School evacuated following smoke in building Updated

Everyone safe following plane crash near Quincy Regional Airport

GOUGH MEDICINE: Gone too soon

QPD investigating elder scam

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

4 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

Bob Gough on Twitter

Bob Gough 10 hours, 48 minutes ago

RT @Illinois_Stage: Barnstorming Quinn announces another chunk of cash for a project in the Quad Cities http://t.co/2zROK9yCtN
QuincyJournal on Twitter

QuincyJournal 11 hours, 14 minutes ago

Dems dig deep to keep governor's office in their hands - Can't really say governor's mansion because Blagojevich a... http://t.co/r1DO9D6Cud
QuincyJournal on Twitter

QuincyJournal 11 hours, 15 minutes ago

Trick or Treat TONIGHT at Central Fire Station http://t.co/sEJb9P6fxZ
QuincyJournal on Twitter

QuincyJournal 12 hours, 15 minutes ago

Illinois schools report has host of new features http://t.co/g1rSQ89YDS