WASHINGTON – House Speaker John Boehner says thousands of jobs would "disappear pretty quickly" if the Export-Import Bank were to expire abruptly when its charter runs out at the end of June.
Continue Reading Below
The Ohio Republican says he's asked Financial Services Chairman Jeb Hensarling to come up with a plan to overhaul or wind down the operations of the bank, which helps finance exports of U.S. products such as jetliners and wind turbines.
Boehner's unwillingness to let the bank's operations abruptly expire is at odds with his deputies, such as Majority Leader Kevin McCarthy of California.
Conservative Republicans want to kill the bank outright but others support business groups who say it keeps U.S. jobs.
Boehner said he'll support any plan Hensarling, a Texas Republican, can advance through his divided panel.