Export-Import Bank

Tom McClintock becomes a leader on budget issues

Though this is only his first term in Congress, Rep. Tom McClintock has, according to The Hill, become the leader of the budget hawks in the House Republican caucus, who are fighting to end the endless river of red ink flowing from Washington:

Rep. Tom McClintock (R-Calif.) has emerged as a leader of deficit hardliners in the House and become a thorn in the side of GOP leaders.

While McClintock does not criticize other Republicans by name, he is clearly dissatisfied with the amount of spending cuts House Republicans have achieved since winning the majority in 2010.

“This government doesn’t spend money unless the House authorizes it. We are more than a year into a period where we have controlled the House and we are a trillion dollars deeper in debt,” he told The Hill in an interview. “The buck starts here. We can’t blame the president.”

McClintock, who has been in the House since 2008, led the 93-member defection against reauthorizing the Export-Import Bank this month with an impassioned floor speech.

“Legitimate companies have plenty of access to private capital, they don’t need these subsidies. The illegitimate ones don’t need to be propped up with the hard-earned dollars of working taxpayers,” McClintock said on the floor.

The Ex-Im bill was negotiated by House Majority Leader Eric Cantor (R-Va.), who supports ending export credits but compromised with Democrats to extend the bank for three more years. In one concession won by Cantor, the bill for the first time orders the administration to begin international talks to end export financing.

That wasn’t enough to sway McClintock, however. He argued that, although the bank turns a profit, it could one day blow up in taxpayers’ faces like Fannie Mae.

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