Ted Cruz, Republican Senator from Texas who is also running for president, took up a fight to rid the world of the country’s Export-Import Bank. However, Senator Cruz failed to get an amendment included in the Senate Highway Bill, and then accused Majority Leader Senator Mitch McConnell (R-Kentucky) of lying to him.
Now, I know you’re wondering “what does the Export-Import Bank have to do with funding our highways?” And that’s a great question! Unfortunately, when a political institution like the U.S. Senate suffers from an idiotic amount of gridlock, members of Congress tend to do deals jam-packed into legislation that may not have anything to do with the original bill. Hence, even though the bill is about funding our highways, people who are desperate for attention like Senator Cruz use this as an opportunity to remind people that he’s running for President. Senator Cruz believes that a government agency like the Export-Import Bank should be rid of due to its “… cronyism and special interests.”
Now, the funny thing is, there are a sizable amount of liberals who actually agree with Senator Cruz about the Export-Import Bank and its perpetuation of crony capitalism. I happen to not be one of them. As I’ve argued before, I believe that the Export-Import Bank provides more benefits than it does downsides. Also, the fact that many other countries also have an Export-Import Bank makes it that much more necessary that we keep ours (as we have for over 81 years now). Furthermore, as Glen A. Carlson III (owner of Acme Manufacturing Co., a fourth-generation family business based in Michigan) notes, “[t]he bank has supported some 1.3 million jobs across the U.S. over the past six years, including nearly 60,000 jobs in Michigan right now as a result of more than $9.3 billion in export sales from the state. The bank did all this without costing the taxpayers a dime. In fact, the bank actually returned $2.7 billion to the U.S. Treasury over the last six years.”
Other amendments that were attempted to be added to the Highway Funding Bill were Utah Senator Mike Lee’s repeal of Obamacare. That failed, too. So all in all, we have yet another “establishmentarians vs. revolutionaries” battle among our ranks in the U.S. Senate. I happen to side with the establishmentarians, but it’s not because I’m a huge fan of the Export-Import Bank. It’s because I love seeing Senator Ted Cruz fail. And just like his attempt to shut down the government in the fall of 2013, this is almost as spectacular of a fail. This failure won’t stop Senator Cruz from his dedication to make the U.S. Senate as dysfunctional as possible. However, every setback that Senator Cruz has is a step forward for progress in our country (i.e. funding our highway system that millions of Americans use on a daily basis and having a government agency that creates jobs in America and expands the global economy).