- The Washington Times - Friday, August 8, 2014

House Financial Services Chairman Jeb Hensarling, Texas Republican, used President Obama’s vacation in Martha’s Vineyard to criticize his support for the at-risk Export-Import Bank, The Hill reported

In a blog post, Mr. Hensarling, a high-profile critic of the bank designed to finance exports for U.S. companies, suggested Mr. Obama take a three-hour day trip to the former site of Evergreen Solar.

The firm took millions from the bank from 2009 to 2010, but it “packed up and moved production to China — laying off 800 workers,” Mr. Hensarling said.

The bank’s charter is set to expire on Sept. 30 without a congressional extension. Mr. Hensarling and other conservative Republicans believe the bank is a system of “corporate welfare” that doesn’t help small business.

Mr. Obama felt the same way in 2008, but now believes the bank “critical to U.S. businesses,” The Washington Times reported.

 

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