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Tuesday, March 3, 2015

Their fight against the Export-Import Bank is part of a much bolder plan.

Koch Industries has officially entered the contentious fight over the fate of the Export-Import Bank, the independent government agency that guarantees loans and provides financing to companies doing business overseas and foreign businesses buying American products - and that has recently become a target for conservatives and libertarians who decry big-government crony capitalism. On Tuesday, the industrial conglomerate run by billionaire brothers Charles and David Koch sent a letter to Congress urging lawmakers to oppose the reauthorization of this obscure, 80-year-old institution, which otherwise will expire at the end of June.

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