Ted Cruz Leads GOP's Fight Against IMF Expansion in Ukraine Aid Package

Heritage "The Foundry" ^ | March 22, 2014 at 3:51 pm | Rob Bluey

[SoConPubbie]

Senate Majority Leader Harry Reid (D–Nev.) is facing a revolt among Republicans for adding controversial language to an aid package for Ukraine.

The Senate is expected to vote on the Ukraine measure next week. The controversial provisions, which have support of the Obama administration and liberals from both parties, would increase U.S. financial support to the International Monetary Fund.

A growing number of Republicans warn that attaching the IMF language would reduce U.S. power while expanding Russia’s influence on the global stage in the wake of its annexation of Crimea.

>>> Q&A: Why Do Conservatives Oppose the IMF Reform Package?

Yesterday, Sen. Ted Cruz (R–Texas) spearheaded a letter of opposition backed by four other senators: Mike Enzi (R–Wyo.), Mike Lee (R–Utah), Rand Paul (R–Ky.), and Pat Roberts (R–Kan.). In their letter to Reid, they wrote:

We are deeply concerned that the Ukraine aid legislation reported by the Senate Foreign Relations Committee contains “reform” provisions that would unnecessarily double the United States contribution to the International Monetary Fund (IMF), part of the largest proportional increase ever, yet ultimately undermine our influence in that body in a manner that provides no actual relief to Ukraine.

As we understand it, this reform would double the funds the IMF can loan, involving a doubling of the United States’ contribution from its current level of $63 billion, while simultaneously reducing U.S. influence over how these funds are directed—and increasing that of Russia. Regardless of the magnitude of this change, this idea is antithetical to the driving purpose of the underlying legislation.

The five Republican senators asked Reid to allow a vote to strip out the IMF language.

Heritage’s Jim Roberts, a research fellow for economic freedom and growth, has warned that inclusion of the IMF language in the Senate bill exploits the Ukraine aid package.

“The actions by the Obama Administration and the U.S. Senate to connect these unrelated issues in one piece of legislation represents a corruption of the congressional process, and that legislative body’s failure to deal with the Ukraine issue on its own merits,” Roberts said.

The IMF provisions were first proposed in 2010. Among the changes, Roberts noted, are the loss of U.S. veto authority over IMF funds and less control over the IMF’s decisions.

“Incredibly,” Roberts warned, “the reform package would also increase Russia’s power at the IMF at the very time when the U.S. is seeking to punish Russia for its act of war and aggression in Crimea.”

[SoConPubbie]

"If we must have an enemy at the head of Government, let it be one whom we can oppose, and for whom we are not responsible, who will not involve our party in the disgrace of his foolish and bad measures." - Alexander Hamilton "We don't intend to turn the Republican Party over to the traitors in the battle just ended. We will have no more of those candidates who are pledged to the same goals as our opposition and who seek our support. Turning the Party over to the so-called moderates wouldn’t make any sense at all." -- President Ronald Reagan "A thing moderately good is not so good as it ought to be. Moderation in temper is always a virtue; but moderation in principle is always a vice." - Thomas Paine 1792 "It does not take a majority to prevail, but rather an irate, tireless minority, keen on setting brushfires of freedom in the minds of men." - Samuel Adams "If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom, go home from us in peace. We ask not your counsels or your arms. Crouch down and lick the hands which feed you. May your chains set lightly upon you, and may posterity forget that you were our countrymen." - Samuel Adams

[SoConPubbie]

Ted Cruz Ping!

If you want on/off this ping list, please let me know.

Please beware, this is a high-volume ping list!

[House Atreides]

“...The IMF provisions were first proposed in 2010. Among the changes...are the loss of U.S. veto authority over IMF funds and less control over the IMF’s decisions....”
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Yet one more reason to support Ted Cruz...he’s not afraid to “stand in the gap” and strive to maintain US sovereignty over American funds.

[Count of Monte Fisto]

The IMF is a Globalist Bankster takeover operation. See the IMF Riot to learn how this scheming den of vipers, as President Jackson might say, performs it dark works. The destabilization and takeover of Ukraine is straight out of their playbook.

Thank God there are at least some decent Men in our government that will stand up to these monsters.

[SunkenCiv]

Thanks SoConPubbie.

The five Republican senators asked Reid to allow a vote to strip out the IMF language. Heritage’s Jim Roberts, a research fellow for economic freedom and growth, has warned that inclusion of the IMF language in the Senate bill exploits the Ukraine aid package... Among the changes, Roberts noted, are the loss of U.S. veto authority over IMF funds and less control over the IMF’s decisions.

[Red White and Blue patriot]

Ted is the man.