Import Bank Reauthorization Act

Nothing defines members of congress more accurately than how they vote on key issues. Far more often than not, you’ll find Tom Udall’s votes on the “wrong” side of important bills! Reference supporting article links below.

What This Bill Does:

This bill funds the bank and increases the loans they can make. The bank provides lower cost taxpayer subsidized loans to U.S. businesses that export goods overseas. As is the case with the federal government, these loans will go to favored businesses and not go to businesses who do not have the right political corrections. Exporters who get the loans can make advantageous agreements with overseas buyers because their costs are lower than exporters who don’t get the loans.

What Vote Aids Middle America: “No”

The Import Bank should be eliminated altogether. Favored businesses do not need to be subsidized. This is corporate welfare at its best and crony capitalism personified. The government doesn’t need to be choosing winners and losers. Let the marketplace do that.

What Tom Udall Voted: “Yes”

Ironically, Tom Udall votes “Yes” to keep the bank, thus voting for corporate welfare that he usually decries. Ironically, most Democrats supported this bill while most Republicans voted against the bank.