The Ex-Im Bank Is ‘Primarily a Marriage Between Big Government and a Few Big Businesses’

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In Heritage Work

“Note the ‘unknown’ section. This isn’t a fluke: Ex-Im routinely loses track of whom they’ve been helping.” -Heritage Foundation President Jim DeMint

Ending the Export-Import Bank is important, Heritage Foundation President Jim DeMint writes:

Ex-Im is rife with corruption, doesn’t promote competition, costs taxpayers billions of dollars and threatens American jobs.  It’s all about politically connected big businesses getting bigger with help from Uncle Sam. It’s not fair, not necessary, and shouldn’t be a hard decision for Congress.

The Export-Import Bank will end in September if Congress does not reauthorize the program. Liberals like Sen. Chuck Schumer (D-NY) are pushing hard to extend it.

Read more of Heritage’s research on the Ex-Im Bank here.

Do you think Congress should continue the Export-Import Bank or allow it to end?

How One Small Country Uses Heritage’s Index of Economic Freedom to Make the Case for Free Enterprise

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In Heritage Impact

caboverde

The Heritage Foundation’s Charlotte Florance, Cabo Verde Prime Minister José Maria Neves, and Heritage’s Anthony Kim pose with the 2014 Index of Economic Freedom

A small island country off the coast of Africa is using The Heritage Foundation’s Index of Economic Freedom to guide its economic policies.

Heritage expert Anthony Kim reports the positive results:

Cabo Verde’s economic freedom score is 66.1, making its economy the 60th freest in the 2014 Index—The Island economy is ranked 3rd out of 46 countries in the Sub-Saharan Africa region, and its overall score is higher than the global and regional averages.

Over the 20-year history of the Index, Cabo Verde has advanced its economic freedom score by 16.4 points, a top 20 improvement. The overall increase has been broad-based in seven of the 10 economic freedoms including trade freedom, financial freedom, the management of government spending, and freedom from corruption, scores for which have improved approximately 25 points or more.

Kim and Charlotte Florance visited Cabo Verde recently to meet the country’s prime minister, José Maria Neves. Kim and Florance were interviewed and featured on the country’s major news outlets, reporting the good news about the country’s upward economic status:

Achieving its highest economic freedom score ever in the 2014 Index, Cabo Verde has advanced well into the ranks of the “moderately free.” While moving toward higher levels of economic freedom, it has made considerable progress in income growth and poverty reduction. The government continues to support policies that promote free trade and open markets.

The Index, produced in conjunction with the Wall Street Journal, measures how 178 countries around the globe stack up on eight key factors that influence economic freedom.

Have you traveled to any countries that rank poorly on economic freedom? Tell us what it was like in the comments.

Kudlow Credits Heritage on Ex-Im Bank Fight

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In Heritage Impact

Economist and CNBC contributor Larry Kudlow credited The Heritage Foundation with leading the fight to end the Export-Import Bank:

Heritage’s Diane Katz explains how the Ex-Im Bank threatens American jobs. The bank, she explains, hurts “domestic companies that are left to compete against foreign firms bankrolled by the U.S. government.”

Why Some States Are Doing Better Economically

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In Heritage Work

Stephen Moore

Stephen Moore. Photo: Willis Bretz

Low-tax states are outperforming their high-tax counterparts in business growth, job growth, income growth, and population growth.

That’s according to a panel of experts including Heritage Foundation Chief Economist Stephen Moore, economist Arthur Laffer, investor Rex Sinquefield, and tax advocate Travis Brown. They held an important discussion today at Heritage detailing the results of their new book, An Inquiry into the Nature and Causes of the Wealth of States.

Their quantitative research shows the fluidity of wealth and how it’s moving from states with the highest tax burdens to the states with lower tax burdens. Continue Reading »

Does the Ex-Im Bank Actually Help ‘Small Business’?

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In Heritage Work

The Ex-Im Bank's "Small Business" Ruse

A new graphic from The Heritage Foundation shows how much the loans made by the Export-Import Bank are helping small businesses–and how much more these loans are helping foreign governments and big corporations.

The Ex-Im Bank is up for renewal in September, and Congress should let it expire.

Rep. Jeb Hensarling (R-TX) made the case for letting it expire during a talk last week at Heritage. Watch the video of his speech here.

This 94-Year-Old Protectionist Law Limits Trade Within the United States

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In Heritage Work

A protectionist law is actually hindering trade within the United States, according to a new report by Heritage Foundation experts Brian Slattery, Bryan Riley and Nicolas Loris.

The Merchant Marine Act of 1920, more commonly referred to as the Jones Act, requires that any goods shipped by water between two points in the U.S. must be transported aboard a U.S.-built and U.S.-flagged ship with a crew composed at least 75% by Americans: Continue Reading »

Free Enterprise Is Shrinking the Gender Pay Gap

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In Heritage Work

Heritage Foundation experts Rachel Grezler and James Sherk highlight the success of free enterprise in shrinking the gender pay gap. Their new report shows how differences in pay reflect not systematic bias, as liberals claim, but different choices made by individual men and women: Continue Reading »

The Best Way Out of Poverty Is Education, Not Hiking the Minimum Wage

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In Heritage Work

An increase in the minimum wage is not an effective way to lift Americans out of poverty. The real answer is still to equip them with the necessary skills to earn a higher wage, especially a high school diploma.

Heritage Foundation expert Mary Clare Reim reports on ways to help both youth and schools succeed in this mission: Continue Reading »

Jim DeMint Travels to Asia to Push Economic Freedom

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In Other Work of Note

Heritage Foundation President Jim DeMint is in Asia this week to promote Heritage’s 2014 Agenda for Economic Freedom, which makes the case for lowering government barriers to commerce, strengthening property rights, and limiting corruption.

During a stop in Taiwain, he took in the sights:

Be sure to follow @JimDeMint on Twitter.

10 Free-Enterprise Principles That Should Guide America’s Agriculture Policy

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In Heritage Work

Dudek Orchards, courtesy of Britt Dudek

“Agriculture has changed dramatically over the past 80 years, yet farm and commodity programs are Depression-era relics that are grounded in central-planning philosophies,” The Heritage Foundation’s Daren Bakst argues in a new analysis.

Bakst outlines 10 principles that should guide American agriculture policy: Continue Reading »

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