BACKHANDED TAXPAYER SUBSIDY OF CHINA
Ron Paul, R-Tx, complains that "China, one of the most brutal, anti-American regimes in the world" regularly
receives US taxpayer subsidies in the form of Export-Import Bank (EXIM) loans. He notes a common hypocrisy
(tough rhetoric but no action) in government relative to China: "Lately it has been in vogue for everyone in
Washington to eagerly denounce the egregious abuses of the Chinese people at the hands of their communist
dictators. Yet no one in our federal government has been willing to take China on in any meaningful way."
Here’s his concern on the tax issue: "Very few people realize that China is one of the biggest beneficiaries of
American taxpayer subsidies. Thanks to the largesse of Congress and the President, China enjoys subsidized
trade and the flow of US tax dollars into Beijing’s coffers. I offered an amendment before the
House of Representatives last month that would have ended the $4 billion subsidy our nation quietly
gives China through the US government’s Export-Import Bank.