McConnell: Export-Import supporters have the votes to revive Bank after it expires Tuesday

Economic Indicators Associated Press

Senate Majority Leader Mitch McConnell says the supporters of the federal Export-Import Bank have the votes to revive it, and he'll give them the opportunity to so.

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The Kentucky Republican, who opposes the bank, tells The Associated Press that proponents of the bank are likely to try to attach the proposal to a highway bill, and says he'll give the Ex-Im proposal a vote.

The bank will expire at midnight Tuesday, if only temporarily.

The 81-year-old bank is a little-known federal agency, created during the Depression, that makes and guarantees loans to help overseas buyers purchase U.S. products.

The issue has become a test of GOP purity. Tea party-backed lawmakers and outside conservative groups have denounced the bank as crony capitalism and vowed to get rid of it.