VIRGINIA: Has Virginia’s economy suffered since July 1. It was supposed to. At least, that’s what lobbyists in Washington predicted would happen after the Export-Import Bank expired on June 30.
Over the past decade, this little-known federal agency handed out more than $200 billion in taxpayer-backed financing to businesses, supporting only 1.9 percent of Virginia’s exports along the way.
Many of those companies claimed the sky would fall if Congress didn’t keep the taxpayer money flowing.
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