Conservatives confident they can kill Ex-Im Bank in tea party win over GOP establishment

Economic IndicatorsAssociated Press

Conservatives dominating the GOP-controlled House say they are increasingly confident about killing a little-known federal 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, won't be reauthorized.

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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.