Washington, DC - The Club for Growth issued the following statement about H.R. 2548, which contains reauthorization for the Overseas Private Investment Corporation. The bill is scheduled to be considered in the House tomorrow: 

“The Overseas Private Investment Corporation is the lesser-known cousin of the Export-Import Bank that distorts markets, puts American taxpayers on the hook for questionable loans, and provides subsidies to politically-connected companies,” said Club for Growth President Chris Chocola. “OPIC has made loans and loan guarantees for things like MTV in Russia and the Ritz-Carlton in Istanbul – it’s nothing more than another corporate welfare slush fund and it’s time for it to go. The Club for Growth urges members of Congress to vote against H.R. 2548 and will likely include a vote on the bill on our Congressional Scorecard.”