On Sept. 22, I received an email from Rep. Derek Kilmer (D-6th District).

Of all things, his update discussed the U.S. Export-Import Bank and how his side of the aisle was attempting to re-authorize its charter for five more years. Republicans in Congress extended the bank’s existence only until summer 2015, with good reason.

Why is Mr. Kilmer such a proponent of this gigantic government entity? He states in his newsletter that the Export-Import Bank sent a billion dollars back into the U.S. Treasury in 2013. But what else does it stand for? That could only be: corporate welfare for giant American companies who are large enough to arrange their own financing.

Boeing’s Bank, as it is referred to, benefits in offering loan guarantees, insurance coverage, direct loans and working capital guarantees to very large, successful companies. For fiscal year 2013, Boeing received $8 billion in assistance, Caterpillar $1.3 million, General Electric $1.2 million. Other huge U.S. firms like Applied Materials, Inc. and Sikorsky Aircraft benefited from millions as well.

Direct loans for 2013 went to Bechtel Power, $1.8 million; and General Electric, $1.4 million. Others in the scheme were The Connell Company, Air Tractor, Ford Motor Credit, Pacific, Ltd., Orbital Sciences Corp. and many others. (source: V. Rugy at George Mason University’s Mercatus Center).

Of the 36-plus executives who run this bank, senior members have been suspended pending ongoing investigations into acceptance of gifts and favors from companies seeking to gain an edge.

Why else would Mr. Kilmer feel so dire about re-authorizing the Ex-Im Bank’s charter? Consider how much might be contributed to any and all politicians who advocate for this obscene corporate welfare given to these hugely successful companies. This, besides exposing American taxpayers to massive losses.

Last year alone, Delta Air and the Airline Pilots Association complained that the Export-Import Bank gave billions in dollars so foreign companies could purchase Boeing Aircraft. This action disadvantaged American workers.

According to a FOIA request, executives at the Export-Import Bank have spent millions of tax dollars flying more than 400 trips in first class. Regular government employees are expected to fly in coach.

This bank is about waste. And Mr. Kilmer is not only trying to impact the size of his re-election coffers, but his actions show he has little regard for the tax payer and the money he appropriates from his constituency.

Barry Clemons
Poulsbo