|
 Representative Kevin McCarthy, the incoming House majority leader,
told "Fox News Sunday" the bank's role should be taken over by the
private sector. Asked if he would allow the bank's charter to expire
at the end of September, McCarthy said: "Yes, because it's something
that the private sector can be able to do."
The Export-Import Bank, which was established 80 years ago, backed
$37.4 billion in exports in 2013.
Scrapping the bank would be a blow to Boeing, Caterpillar, General
Electric and other U.S. companies that rely on Ex-Im financing to
make sales in export markets where commercial lending is scarce.
 "The reality is that manufacturers of all sizes can't afford to be
defenseless in today's global marketplace," said Linda Dempsey, vice
president of international economic affairs for the National
Association of Manufacturers business group.
"Allowing the Ex-Im Bank to close would be a gift to our competitors
and would result in the loss of manufacturing in the United States,"
Dempsey said in a statement. "If Congress fails to take up a
reauthorization bill, people are going to lose their jobs,
businesses and supply chains around the country will be impacted,
and constituents are going to want to know why."
[to top of second column] |
Representative Eric Cantor, who steps down as majority leader on
July 31 after losing a primary election this month, was a major
supporter of the bank and helped get its charter renewed on 2012 in
the face of conservative opposition.
Last month, the chairman of the House Financial Services Committee,
Jeb Hensarling, called on fellow Republicans to oppose renewing the
charter. He said the bank helps some companies at the expense of
others.
Representative Steny Hoyer, the No. 2 Democrat in the
Republican-controlled House, has said Congress should reaffirm its
support for the bank as soon as possible to restore certainty.
(Additional reporting by Krista Hughes and Will Dunham; Editing by
Jim Loney and Andrea Ricci)
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