{"id":1589190,"date":"2022-08-04T14:05:10","date_gmt":"2022-08-04T18:05:10","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1589190"},"modified":"2022-08-04T14:05:13","modified_gmt":"2022-08-04T18:05:13","slug":"billions-meant-for-us-small-businesses-going-to-china-russia-watchdog","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/billions-meant-for-us-small-businesses-going-to-china-russia-watchdog\/","title":{"rendered":"Billions Meant for US Small Businesses Going to China, Russia: Watchdog"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbillions-meant-for-us-small-businesses-going-to-china-russia-watchdog%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1589190&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Small businesses seeking to grow their overseas sales are supposed to be the primary beneficiaries of loan guarantees by the U.S. Export-Import Bank (EX-IM), but a new analysis by a nonprofit government watchdog finds most of the funds go to corporate giants and corrupt regimes overseas.<\/p>\n<p>\u201cSmall businesses, supposedly the intended beneficiary of the Export-Import Bank, received only $54.8 billion of the over $234 billion in total assistance since 2007, or about 23 percent\u201d of the bank\u2019s total funding, according to the <a href=\"https:\/\/www.openthebooks.com\/assets\/1\/6\/7_Ex-Im_v5.pdf\">report<\/a> by Open The Books (OTB), a Chicago-based nonprofit that monitors government spending.<\/p>\n<p>By filing more than 40,000 federal Freedom of Information Act requests and posting the checkbooks of 49 state governments, OTB has posted to the internet more than $6 trillion in public spending. The non-profit\u2019s goal is to \u201cpost every dime in real-time.\u201d<\/p>\n<p>By far the biggest beneficiary of EX-IM lending is the Boeing Corporation, the largest U.S. aircraft manufacturer and one of the world\u2019s most successful designers and builders of commercial airliners.<\/p>\n<p>Boeing\u2019s headquarters is currently in Chicago, but the company is planning a move to Arlington, Virginia, in the near future.<\/p>\n<p>\u201cThe Export-Import Bank has been nicknamed \u2018Boeing\u2019s Bank\u2019 by critics, and it is easy to see why. From 2007-2021, the aircraft giant received 33 percent of all of the Export-Import Bank\u2019s assistance, totaling over $66.4 billion, while the second largest vendor received just over $5 billion. That\u2019s more than all small businesses received combined,\u201d the OTB report said.<\/p>\n<p>\u201cBoeing subsidiary Boeing Satellite Systems International reaped another $1.4 billion in assistance. Major international airline companies like Ryanair, Emirates Airlines, and Air Canada have all received assistance for Boeing purchases. Boeing employs a small army of 18 lobbyists to advocate for the Export-Import Bank,\u201d the report said.<\/p>\n<p>The second largest beneficiary of EX-IM funding is the<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Small businesses seeking to grow their overseas sales are supposed to be the primary beneficiaries of loan guarantees by the U.S. Export-Import Bank (EX-IM), but a new analysis by a nonprofit government watchdog finds most of the funds go to corporate giants and corrupt regimes overseas. \u201cSmall businesses, supposedly the intended beneficiary of the Export-Import [\u2026]<\/p>\n","protected":false},"author":173,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1589190","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1589190","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/173"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1589190"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1589190\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1589190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1589190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1589190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}