Credit: Reuters/Larry Downing
U.S. House Majority Leader-elect Rep. Kevin McCarthy (R-CA) gestures on the second day of the 5th annual Faith & Freedom Coalition's ''Road to Majority'' Policy Conference in Washington, June 20, 2014.
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.
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.
(Reporting by Eric Beech; Editing by Jim Loney and Andrea Ricci)
Entities 0 Name: Kevin McCarthy Count: 2 1 Name: House Count: 2 2 Name: Jim Loney Count: 1 3 Name: Eric Beech Count: 1 4 Name: Boeing Count: 1 5 Name: Congress Count: 1 6 Name: Andrea Ricci Count: 1 7 Name: U.S. Count: 1 8 Name: Washington Count: 1 9 Name: Caterpillar Count: 1 10 Name: McCarthy Count: 1 11 Name: Export-Import Bank Count: 1 12 Name: Faith & Freedom Coalition Count: 1 13 Name: House Financial Services Committee Count: 1 14 Name: General Electric Count: 1 15 Name: Eric Cantor Count: 1 16 Name: Steny Hoyer Count: 1 17 Name: Jeb Hensarling Count: 1 18 Name: Reuters\/Larry Downing U.S. House Count: 1 Related 0 Url: http://ift.tt/1yAxLJD Title: McCarthy: Blame Senate, not White House Description: Newly elected House Majority Leader Kevin McCarthy said on Sunday the Senate, rather than President Barack Obama, is to blame for gridlock in Washington. "I believe you can work with anybody," the California Republican said on "Fox News Sunday," when asked about his approach to doing business with the president.
