"The Export-Import Bank is a prime example of corporate welfare that should have been eliminated years ago," Chocola said in a statement. "By picking winners and losers, politicians and bureaucrats are distorting trade flows. It's time to end the Ex-Im Bank for good."
Chocola's opposition comes after the bank helped CTB, his family's business that was acquired by Berkshire Hathaway in 2002. The bank provided loans to customers in Venezuela and Kazakhstan to purchase CTB equipment, according to 2001 congressional testimony.
And Delta spokesman Trebor Banstetter said comparing the bank's assistance to the airline industry bailout was "very much apples and oranges." The bailout, he said, "was a means to keep the entire U.S. industry out of bankruptcy" following the Sept. 11, 2001 terrorist attacks, adding that Delta is not opposed to the bank, but doesn't think the government should be helping Boeing sell planes to its rivals.
Delta has bought planes with export financing from Brazil and Canada, but "what we would really like is for nations to be out of the industry entirely," he said.
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