Compromise on Ex-Im Bank floated at hearing
Potential compromise on US Export-Import Bank's future emerge at House hearing
Associated Press
2014-06-26 03:42 AM

WASHINGTON (AP) -- Faint signs of a potential compromise on the contentious issue of the U.S. Export-Import Bank's future emerged during a House hearing.

Rep. John Campbell, a California Republican, says he has drafted compromise legislation that addresses the concerns of many conservative Republicans, who oppose the bank. That has pitted them against their traditional allies in the business community, who have made the bank's renewal a top priority.

Ex-Im Bank provides loans, loan guarantees and credit insurance to overseas buyers of U.S. goods. Its charter expires in September and without legislation it would not be able to back new loans.

Its future came under threat last weekend after House Majority Whip Kevin McCarthy said he opposed reauthorizing the bank. House Speaker John Boehner, a former supporter, declined to take a position Tuesday.

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