The primary defeat of Eric Cantor continues to reverberate in unexpected ways, as his incoming successor as Majority Leader tells Fox News that he supports shutting down the Export-Import Bank (Washington Examiner):
On “Fox News Sunday,” host Chris Wallace asked McCarthy if he agrees with “conservatives who say that the Export-Import Bank is a form of crony capitalism and it should be put out of business — allowed to expire.”
McCarthy responded by tying Ex-Im to “one of the biggest problems with government,” using taxpayers’ “hard-earned money,” to do things the private sector can do. McCarthy supported Ex-Im’s reauthorization in 2012, but he argued on Fox News Sunday that this was a vote to “wind down the Ex-Im Bank.”
Wallace put the question more directly: “You would allow the Ex-Im Bank to expire in September?”
McCarthy immediately said “Yes. Because it’s something that the private sector can be able to do.”
That’s a dramatic change in view from Cantor, and a refreshing one. If McCarthy is serious about it (and that bizarre explanation for his 2012 vote should give us some pause), it would strike a strong blow against corporatism.
Ex-Im’s defenders have three months to save their special interest, and they will throw everything including the kitchen sink to do so. McCarthy’s stance is to be praised, and we should help him hold his newfound ground.
Cross-posted to the right-wing liberal