McCain's Ex-Im Bank vote doubly disappointing

John McCain’s vote to attach a reauthorization of the Export-Import Bank to the transportation funding bill was doubly disappointing.

First, McCain is usually opposed to the kind of corporate welfare the Ex-Im Bank provides. The bank puts the taxpayer on the hook for the financing of some exports. Overall, the bank covers a very small fraction of exports, so it’s hardly essential to U.S. competitiveness. And although the bank is hiding behind small businesses politically, the lion’s share of the guarantees, by volume, go to big businesses.

Second, the bank has nothing to do with funding transportation. This kind of Christmas-treeing is part of why Congress can’t get serious and important things done. McCain usually understands that.

Reach Robb at robert.robb@arizonarepublic.com.