Opinion

Congress must act against corrupt Boeing monopoly


All opinions expressed in this article are solely the opinions of the contributors.

Boeing is in the news again following the suspicious death of a whistleblower who had agreed to testify against the company regarding its alleged use of “substandard” airplane parts. That news itself follows multiple incidents involving Boeing aircraft, including doors and hull panels flying off, fires breaking out, and landing wheels breaking off and crashing to the ground during takeoff.

Straight Arrow News contributor Adrienne Lawrence contends that Boeing is a corrupt monopoly without effective checks or balances against its power. She argues that this behavior will continue unless or until Congress gains the courage to regulate Boeing and push back.

The following facts are undeniable here. Boeing is the country’s second-largest recipient of federal funding after Lockheed Martin. And that funding, well, it’s in the billions. Boeing collects more than 20% of the U.S. Department of Defense procurement budget, which hovers around what, $168 billion this year alone. Boeing also benefits from benevolent American trade policies. They are so favorable that the company is currently among if not the largest exporter in the United States, making it singularly dependent on the generosity of the American trade policy regime, as writer Alexander Semaan acknowledged. Plus, there are no real checks on Boeing’s monopoly status here, just open trade doors complemented by big tax breaks.

According to the Subsidy Tracker and Good Jobs First, Boeing has long been among if not the single largest beneficiary of state and local tax breaks to the tune of more than $15 billion, also while enjoying nearly $75 billion in federal loans. Boeing enjoys this series of 11-digit financial breaks and benefits courtesy of Congress and without the prerequisite of checks and balances that ensure that Boeing doesn’t act to the detriment of the American people.

Truly, what incentive does Boeing have to ensure that we are safe at 25,000 feet when the U.S. government has rolled out the red carpet to ensure that they cash in without consequence and without competition?

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