I voted no on the motion to suspend the rules and pass #HR2548, which reauthorizes a corporate welfare agency, the Overseas Private Investment Corporation (OPIC), through September 30, 2017. On its face, the bill concerns electricity in sub-Saharan Africa, requiring the president to develop a government strategy to promote access to electricity there. But the bill also reauthorizes OPIC, the sister agency of the Export-Import Bank (Ex-Im), which I have a bill to repeal (#HR2263). OPIC provides taxpayer-backed loans, loan guarantees, and insurance to private companies that invest overseas. Recent projects backed by OPIC include two spas in Chile, Wendys franchises in the country of Georgia, and a new Porsche dealership in Ukraine. Lets end OPIC, end Ex-IM, and end corporate welfare. It passed 297-117.
Posted on: Tue, 27 May 2014 16:03:44 +0000
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