Business

5 Things to Know About the Fight Over the Export-Import Bank

Published

9 years ago

July 28, 2015

A man walks out of the Export-Import Bank of the U.S., Tuesday, July 28, 2015, in Washington. The federal Export-Import Bank expired June 30 when Congress failed to renew its charter. (AP Photo/Jacquelyn Martin)

ERICA WERNER, Associated Press

WASHINGTON (AP) — The federal Export-Import Bank expired June 30 when Congress failed to renew its charter. The bank is a small federal agency that helps U.S. companies sell their products overseas, by underwriting loans to foreign customers. Conservatives oppose it as corporate welfare and are pushing to keep it dead. But late Monday the Senate voted 64-29 to add legislation reviving the bank to a sweeping highway bill being considered on the floor.

Five things to know about the Export-Import Bank and its future:

___

PATH AHEAD

Despite the Senate’s action on a measure to revive the bank and extend it through 2019, its future is far from assured. The House announced plans Tuesday to pass a three-month highway extension that does not include an Export-Import Bank provision — and then adjourn for the summer. That means the bank will stay shuttered at least into the fall, when Congress returns from its annual August recess.

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NOT DEAD YET

Even though the bank’s charter expired at the end of June, it remains in business to service more than $100 billion in outstanding loans and guarantees. The agency itself is funded, including employee salaries, through Sept. 30.

___

DEBATE ABOUT THE BANK’S ROLE

Conservatives say the Export-Import Bank amounts to corporate welfare, pointing out that the companies that benefit include major corporations like Boeing, Caterpillar and GE which they say can support themselves without taxpayers’ help.

But supporters of the bank, including groups like the Chamber of Commerce and National Association of Manufacturers, point out that most other countries have export credit agencies, in some cases more generous than the U.S. version. Supporters say it will be harder for U.S. companies to compete overseas if their competitors are supported by the government and they aren’t.

The bank says that last year it authorized $20 billion worth of transactions which supported $27.5 billion of U.S. exports and 164,000 U.S. jobs. And it says it has a default rate of less than 1 percent.

Opponents argue that the bank mostly helps big businesses. Of the $20.5 billion in financing and insurance authorized by the bank in 2014, just over $5 billion of that was for small business exporters, according to bank officials. But if the transactions themselves are counted up, more small businesses are helped than big ones. It’s just that the amounts spent on them are smaller.

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RIFE WITH POLITICS

In past years the bank was renewed with little or no controversy and sometimes without so much as a roll-call vote. But after a tea party-infused GOP majority retook the House in 2010, conservatives began seizing on the bank as crony capitalism and a federal agency ripe for elimination, making a 2012 reauthorization vote a struggle for the first time.

Outside groups like Club for Growth and Heritage Action for America made it an issue, and this year, with Republicans in control of the Senate and a presidential campaign underway, conservatives have targeted the Export-Import Bank even more assertively.

Adding to the pressure, the billionaire GOP Koch Brothers took on the cause through their allied organizations Americans for Prosperity and Freedom Partners, pressuring GOP presidential candidates who are jockeying for the Kochs’ coveted financial backing to toe the line.

The issue provoked extraordinary GOP infighting in the Senate in recent days as presidential candidate Sen. Ted Cruz, R-Texas, accused Majority Leader Mitch McConnell, R-Ky., of lying to him about whether there was a deal to revive the bank. McConnell disputed the accusation.

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81-YEAR HISTORY

The bank was created by Franklin Delano Roosevelt in 1934, during the Great Depression. His aim was to help the U.S. “re-engage economically with the rest of the world,” according to the State Department historian. The bank was initially established to help trade with the Soviet Union, and a second version was meant to boost trade with Cuba, but the two entities were soon merged and began extending efforts around the globe.

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‘Jim Crow Was and Remains Real in Alameda County (and) It Is What We Are Challenging and Trying to Fix Every Day,’ Says D.A. Pamela Price

“The legacy of Jim Crow is not just a legacy in Alameda County. It’s real. It is what is happening and how (the system is) operating, and that is what we are challenging and trying to fix every day,” said D.A. Price, speaking to the Oakland Post by telephone for over an hour last Saturday. “Racial disparities in this county have never been effectively eliminated, and we are applying and training our lawyers on the (state’s) Racial Justice Act, and we’re implementing it in Alameda County every day,” she said.

Published

5 hours ago

November 2, 2024

Oakland Post

Exclusive interview with County D.A. Price days before recall election. Photo by Ken Epstein.

By Ken Epstein

Part One

Alameda County District Attorney Pamela Price gave an exclusive in-depth interview, speaking with the Oakland Post about the continuing legacy of Jim Crow injustice that she is working to overturn and her major achievements, including:

restoring and expanding services for victims of crime,
finding funding for an alternative to incarceration and/or prosecution for substance use and mental health-related misdemeanors and
aggressively prosecuting corporations for toxic pollution and consumer violations.

“Racial disparities in this county have never been effectively eliminated, and we are applying and training our lawyers on the (state’s) Racial Justice Act, and we’re implementing it in Alameda County every day,” she said.

Passed by the State Legislature, this law “is an extremely helpful tool for us to address the racial disparities that continue to exist in our system,” she said.

(The law addresses) “the racial disparities that we find in our juvenile justice system, where 86% of all felony juvenile arrests in the county are Black or Brown children.

“We trained the entire workforce on the Racial Justice Act. We are creating a data system that will allow us to look at the trends and to clearly identify where racism has infected the process. We know that where law enforcement is still engaging in racial profiling and unfair targeting and arresting, we’re trying to make sure we’re catching that.”

Many people do not know much about the magnitude of Alameda County District Attorney’s job. Her office is a sprawling organization with 10 offices serving 1.6 million people living in 14 cities and six unincorporated areas, with a budget this year of about $104 million.

Asked about her major achievements since she took office last year, she is especially proud of the expanded and renewed victims’ services division in the DA’s Office, she said.

“We have expanded and reorganized the entire claims division so that we are now expediting as much as possible the benefits that victims are entitled to. Under my predecessor, they were having to wait anywhere, sometimes as long as a year, to 400 days to get benefits.

“Claims had been denied that should not have been denied. So, we’re helping people file appeals on claims that were denied under her tenure,” D.A. Price said.

“Under my predecessor, (the victims’ service office) was staffed by people who were not trained to provide trauma-informed services to victims, and yet they were the only people that the victims were in contact with. We immediately stopped that practice,” she continued.

“We had to expand the advocate workforce to include people who speak Hmong, the indigenous language of so many people in this county who are victims of crime.”

More African Americans advocates were hired because they represent the largest percentage of crime victims and we hired a transgender advocate and advocates who speak Cantonese and Mandarin. “The predominantly Chinese American community in Oakland was not being served by advocates who speak the language,” said D Price

“We reduced the lag time from the delivery of benefits to victims from 300 to 400 days down to less than 60 days.”

She increased victim advocacy by 38%, providing critical support to over 22,500 victims, a key component of community safety.

Other major achievements:

She recently filed 12 felony charges against a man accused of multiple armed robberies, demonstrating her seriousness about prosecuting violent crimes
In October, a jury delivered a guilty verdict in the double murder trial of former Alameda County Sheriff’s Deputy Devin Williams, showing DA Price’s commitment to holding law enforcement accountable.
She recently charged a man and woman in unincorporated San Leandro with murder, felony unlawful firearm activity, and felony carrying a loaded firearm in public.
A. Price’s office was awarded a $6 million grant by the state for its CARES Navigation Center diversion program. In partnership with the UnCuffed Project at a Seventh Day Adventist Church in Oakland, the program provides resources and referrals for services to residents as an alternative to incarceration and/or prosecution for substance use and mental health-related misdemeanors.

“This is the largest grant investment in the history of the Alameda County District Attorney’s Office,” said D.A. Price.

She explained that the program now has a mobile unit. “We have washers and dryers. We have a living room. We have a television. It’s a place where people can decompress, get themselves stabilized,” she said.

The project has “the ability to refer people to housing, to more long-term mental health services, to social services, and to assist them in other ways.”

Her office joined in a $49 million statewide settlement with Kaiser Health Plan and Hospitals, resolving allegations that the healthcare provider unlawfully disposed of hazardous waste, medical waste, and protected health information. The settlement, which involved the state and a half dozen counties, resulted in Alameda County receiving $7 million for its residents.
DA Price charged a former trucking company employee for embezzling over $4.3 million, showing her commitment to tackling white-collar crime.
For the first time, Alameda County won a criminal grand jury indictment of a major corporation with two corporate officers that have been sources of pollution. “They had a record of settlements and pollution in this community, and they had a fire that constituted a grave danger,” she said.

Attorney Walter Riley contributed to this article.

See Part Two

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Oakland Post: Week of October 30 – November 5, 2024

The printed Weekly Edition of the Oakland Post: Week of October 30 – November 5, 2024

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1 day ago

November 1, 2024

Oakland Post

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Business

Chevron Reports Progress in Flaring, Emissions at Community Town Hall

At the first in a series of community town halls on Oct. 16, Chevron Richmond reported a reduction in year-over-year flaring incidents, both in number and duration, and detailed new technologies and processes that will further drive down emissions and heighten community awareness about operations. Chevron employees also answered questions from the community and listened to concerns at the town hall, which was hosted by Ceres Policy Research and held at CoBiz in downtown Richmond.

Published

5 days ago

October 28, 2024

Oakland Post

Community member Kathleen Sullivan speaks at the Chevron town hall. Photo courtesy Richmond Standard.

By Mike Aldax

The Richmond Standard

Chevron employees also answered questions from the community and listened to concerns at the town hall, which was hosted by Ceres Policy Research and held at CoBiz in downtown Richmond.

Similar town halls will be held twice per year over the next five years as part of a settlement agreement with the Bay Area Air Quality Management District (BAAQMD).

The goal is to increase transparency about flaring and increase opportunities for the community to get answers to their questions about potential impacts to the community.

A key output is the creation of a Community Action Plan, or CAP. The CAP aims to create a two-way dialogue between Chevron and neighbors around flaring and environmental compliance.

“Chevron’s focus in this process is one of learning and engagement,” said Brian Hubinger, public affairs manager at Chevron Richmond. “We felt the most efficient way was to bring together a broad selection of community members rather than just think about what it would take to comply with the settlement agreement.”

The first town hall drew a few dozen members of the community, including Chevron employees, representatives of fence-line neighborhoods and members of local environmental organizations.

During the event, Chevron employees reported that 19 BAAQMD-reportable flaring incidents occurred at the refinery from October 2022 to September 2023 with a total duration of 270 hours. During the same period this year, 18 flaring incidents occurred with a total duration of 159 hours, marking a 41% decrease in duration.

Further gains are expected with the implementation of Flare IQ, set to be installed this year and next on all of the refinery’s flaring systems. Flare IQ is described as a supercomputer with an algorithm that gathers data from operations and enables employees to address potential issues before they occur.

Chevron also reported a 40% decrease in particulate matter emissions since the completion of the refinery modernization project in 2018.

In addition, flare gas volume related to Chevron’s new hydrogen plant project, built as part of the modernization project, decreased by 85% since 2019. The hydrogen plant has also reportedly made the refinery 20% more efficient.

“We’re really proud about that,” said Kris Battleson, manager of health, safety and environment at Chevon Richmond.

Neighborhood council leaders joined the president of the local NAACP in lauding the effort toward transparency and accountability. Among them was Vernon Whitmore, president of the Sante Fe Neighborhood Council and member of the 15-person CAP committee.

“The way we were able to talk openly and freely with Chevron – honestly, bluntly and frankly – while developing this program was very good,” Whitmore said. “And it was something that was well-needed at this time.”

Still, residents are skeptical, including Kathleen Sullivan, a longtime community advocate who also serves on the CAP committee. But she added, “you can’t complain about something and not be involved in the solution.”