Sean Patrick Maloney: “while I am a strong supporter of the Ex- Im Bank, I am voting for this amendment to prevent companies that dodge U.S.…”

“while I am a strong supporter of the Ex- Im Bank, I am voting for this amendment to prevent companies that dodge U.S. taxes from receiving U.S. taxpayer assistance. It is simple: we should not be providing taxpayer-funded assistance to corporations that set up shell headquarters offshore for the purpose of avoiding paying their fair share of U.S. taxes. The Export-Import Bank should be screening companies it funds to prevent this type of abuse. And if it does not, we should. I have consistently been a vigorous backer of the Export-Import Bank's mission to provide funding for exports produced in the United States. The bank's loans have supported American companies and provided jobs in this country, in my district of New York, and in many others. But giving loans to corporations, to expatriates, is an abuse of a good program. Not only are companies that evade U.S. taxes getting taxpayers' money, but they are taking away dollars that should be spent helping companies that pay their fair share of American taxes. And, of course, if we allow this, we are encouraging other companies to move their so-called headquarters to Bermuda to avoid taxes and abandon the American worker. This is exactly what Senator Kerry meant when he said that we must stop providing tax subsidies to Benedict Arnold CEOs.…”