Efforts to revive Export-Import Bank face opposition from outside groups, White House hopefuls

Economic Indicators Associated Press

Congress is about to decide the fate of an obscure federal agency that has become improbably tangled in presidential politics and Republican Party infighting.

Continue Reading Below

Conservative groups including those backed by the Koch (kohk) Brothers are among those pushing Republican lawmakers and candidates to oppose the Export-Import Bank. They argue it amounts to corporate welfare.

On the other side are most Democrats, leading business groups like the U.S. Chamber of Commerce and some business-friendly Republicans who say killing the Export-Import Bank threatens the U.S. economy.

Opponents prevailed last month as congressional inaction caused the Export-Import Bank's charter to expire.

But now supporters are pushing to revive the bank by attaching it to must-pass highway legislation that will be debated in the Senate this week.