Hillary Clinton said Wednesday that renewing the Export-Import Bank is a “no-brainer,” lining herself up against liberal rival Bernie Sanders, who supports ending the bank.
Speaking at Politics and Eggs, a historic forum at St. Anselms’ College here, Clinton called for the reauthorization of the 80-year-old credit agency that gives out loans to companies to promote U.S. exports. She heralded Democrats and Republicans in the House who came together on Tuesday to reauthorize the bank’s charter.
But she notably faulted those who are against the bank.
“For the life of me, I don’t understand the arguments” against the bank, she said, adding later, “There are people in Washington against it and that makes absolutely no sense.”
Someone notably against the bank: Sanders, who said in June that the United States government “should not be providing corporate welfare to multi-national corporations through the Export-Import Bank” at a time when local factories are shutting down and jobs are being outsourced.
In a bipartisan vote, the House on Tuesday reauthorized the bank’s charter, which was allowed to expire over the summer.
The legislation now moves to the Senate, which voted to bring back the Export-Import Bank in July. Sanders was one of the 29 senators who voted against the bank at the time.
The bank has become an issue on the Republican side of the 2016 race, too. Pro-business Republicans say the bank creates jobs, while more populist Republicans argue that it is corporate welfare.
Former Florida Gov. Jeb Bush has said the federal government should phase out the bank. Sen. Marco Rubio filed an amendment to end it in July.
Sens. Ted Cruz and Rand Paul, who will have a chance to vote on the proposal, have also said they are against bringing back the bank.