Republican conservatives confident they can kill Ex-Im Bank
WASHINGTON (AP) — Conservatives dominating the Republican-controlled House say they are increasingly confident about killing a little-known U.S. agency that subsidizes overseas purchases of U.S. exports.
They say they’ll work to make sure that the Export-Import Bank, whose charter expires at the end of June, will not be reauthorized.
Conservative critics say the bank provides too much of its credit assistance to help huge, well-connected corporations like Boeing and General Electric.
Financial Services Committee Chairman Jeb Hensarling says he wants the bank’s charter to expire without a vote and that “the momentum is in our favor.”
Establishment groups like the Chamber of Commerce say the Export-Import Bank provides critical loans and loan guarantees to help overseas buyers purchase U.S. products and support tens of thousands of jobs.