This is the Cato Daily Podcast for Wednesday, July 2nd, 2014.

I'm Caleb Brown. We may be closer than ever to ending a significant chunk of corporate

welfare. The Export-Import Bank subsidizes large U.S. firms by facilitating

exports, but it also helps foreign companies that compete in U.S. markets.

Tim Carney, a columnist at the Washington examiner, talks about this fiscal policy litmus test.

I think that any conservative who actually is pro-free market and not pro-business is going to oppose reauthorizing the

Export-Import bank. The question is whether Republican leadership, that's where

I'm looking at the litmus test. Will Republican leadership try to bring around the rest of the House and kill this?

Because in the House they could do it.

So for me, does the Republican leadership actually oppose crony capitalism?

I would say if they do, they will make sure that Export Import Bank is not reauthorize at least not with a major fight

Does it how important is it that the new majority leader says we're not we're not going to do this that's crucial because

in the past the majority leader was Eric Cantor and he was the one who actually cut the deal

in 2012 to renew the bank you have the current financial services chairman, Jeb Hensarling,

he opposes reauthorization.

So if it doesn't pass out of committee, the only way it comes to the floor is if the majority

leader brings it to the floor.

So now that McCarthy, incoming majority leader, says he's not going to bring it to the floor unless

it passes out of committee.

He's putting the ball in the court of Jeb Henserling who has said he doesn't want to reauthorize it.

The Chamber of Commerce is a big backer of the Export Import Bank and they say this doesn't

cause taxpayers a dime. export import bank is turning money

...