Bernie Sanders issued fresh criticism of Hillary Clinton as a crony capitalist Sunday, decrying her support for the federal Export-Import Bank.
“More than 75 percent of Export-Import Bank financing goes to large profitable corporations, which have moved manufacturing plants and jobs overseas,” Sanders’ campaign said in a release titled “Clinton and corporate welfare” Sunday.
Sanders’ attack is notable because it mimics attacks by many congressional conservatives who pushed to block reauthorization of the bank last year. His criticism came as the Democratic candidates prepared to debate in Flint, Michigan. Michigan tends to favor protectionist policies.
“Boeing and General Electric, the two largest recipients of corporate welfare from the Export-Import Bank, shipped more than 72,000 jobs overseas since 1994,” the memo said.
“The Export-Import Bank provides corporate welfare to some of the largest multi-national corporations that are moving jobs to China and stashing their profits in tax havens like the Cayman Islands,” said Warren Gunnels, Sanders’ policy director.
The Ex-Im renewal fight, which played out ferociously in 2015, mirrors the divide occurring in both parties. Establishment, more corporate-friendly candidates like Hillary Clinton and Sen. Lindsey Graham favored its renewal, while anti-establishment figures like Sen. Ted Cruz, R-Texas, favored scrapping the institution.
After a six-month lapse, Ex-Im was renewed for four years in December 2015.
