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Rep sanders3 Original Source Link: (May no longer be active)    http://bernie.house.gov/documents/releases/20020501150823.asp http://bernie.house.gov/documents/releases/20020501150823.asp For Immediate Release, 5/1/2002 Sanders: Stop Corporate Welfare at the Export-Import Bank Congressman Bernie Sanders, Ranking Member of the International Monetary Policy and Trade Subcommittee, said today that opposition is growing to the current policies of the Export-Import Bank – a major provider of corporate welfare. Sanders said that an increasing number of Members want to see either fundamental changes in the way that agency is run, or its termination. An amendment offered by Sanders, which would have prohibited companies from receiving future Ex-Im subsidies if they laid off more American workers than they did at their plants overseas, received 135 votes – including a majority of Democrats. Sanders said; “The American people are sick and tired of the largest and most profitable corporations in this country getting billions in corporate welfare while they lay off millions of American workers and move their jobs to China, Vietnam and other poor countries where workers are paid as little as 20 cents an hour. “Eighty percent of Ex-Im money goes to Fortune 500 companies including Boeing, General Electric, Catepillar Inc., Mobil Oil, Westinghouse, AT&T, Motorola, Lucent Technologies, Enron, IBM , FedEx, General Motors, Halliburton, Siemans, Raytheon, and United Technologies. Amazingly, these companies are some of the biggest job cutters in the country. “General Electric has received over $2.5 billion in direct loans and loan guarantees from the Ex-Im Bank. And what was the result? From 1985-1995 GE reduced its workforce from 243,000 to 150,000. In fact, taking the Export-Import loans GE announced to the world that its goal was to lay off American workers and move the jobs to Third World countries. “General Motors has received over $500 million in direct loans and loan guarantees from the Ex-Im Bank. The result? GM has shrunk its U.S. workforce from 559,000 to 314,000. “Motorola has received almost $500 million in direct loans and loan subsidies from the Ex-Im Bank, yet its total workforce has been reduced to only 56 percent American workers. Sanders concluded; “Either the Ex-Im is reformed to protect American workers or it should be ended. We cannot keep subsidizing companies that have contempt for American workers.” Contact: Warren Gunnels at (202) 225-4115 Printed From Congressman Bernie Sanders' (I-VT) Website: http://bernie.house.gov/documents/releases/20020501150823.asp

Arms deal { January 14 2003 } Black family farms rare as hens teeth { November 11 2006 } Congressman says import export bank is corporate welfare Corpwelf1 4 [rtf] Cw crunched time { February 7 2000 } Cw time topbanana { February 7 2000 } Enron no taxes { February 3 2002 } Family farms destroyed by government subsidies { December 21 2006 } Farm subsidies abused Farm subsidies { May 14 2002 } Fate of family farming { June 6 2004 } Firms avoid taxes { October 20 2000 } Halliburton avoids taxes { January 30 2004 } Hog farm shelters { August 17 2001 } House panel passes corporate tax break No taxes ny { October 20 2000 } Pentagon fails to crack down on contractor tax cheats Rep sanders { May 15 2002 } Rep sanders2 Rep sanders3 Tax avoidance { June 28 2002 } Tax cheats sanders Tax shelter { June 28 2002 } Tax shelters sanders Tax shelters { February 29 2000 } Time cw [htm] Time cw Wto hits us { August 21 2001 } Files Listed: 28

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