Meet the Billionaire Receiving U.S. Taxpayer-Backed Loans
Fellow Taxpayer,
Should an Australian businesswoman who is worth a reported $17.7 billion be receiving $700 million in loans backed by American taxpayers?>> Meet Gina Rinehart, Australia's Corporate Welfare Queen.
We don’t think so either. Yet, the Export-Import Bank underwrote this loan that "commercial banks and bond investors were reluctant to shoulder."
An Australian newspaper even questioned the deal asking, "why are American taxpayers subsidizing a financial transaction involving an Australian billionaire's iron ore project?"
>> Learn why Ex-Im is giving loans to an Australian billionaire.
If the Australian press gets it, then why doesn’t Congress? Ex-Im, a fund for corporate welfare, should not be reauthorized later this year.
Thank you for staying informed on this ongoing fight.
Sincerely,
Michael A. Needham
Chief Executive Officer
Heritage Action for America
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