ELKHORN, Wis.—General Electric last week announced it was closing its Waukesha, Wis., plant and moving to Canada because Congress did not reauthorize the Export-Import Bank. Rep. Paul Ryan, R-Wis., addressed the issue Monday, explaining why he’s personally opposed to the bank and what really prompted GE’s move.

Ryan, who chairs the House Ways and Means Committee, described Ex-Im as an institution corrupt with crony capitalism that made financial decisions based on a political agenda.

>>> Why One State Lawmaker Is Criticizing GE for Using the Export-Import Bank as a ‘Scapegoat’

Originally published by MacIver News Service