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Key Republican wants to kill US Export-Import Bank

Published on Jun 23, 2014 6:18 AM

WASHINGTON (AFP) - The next Republican majority leader in the House of Representatives said on Sunday that he favours shuttering the US Export-Import Bank, which helps finance the export of American goods and services abroad.

The government agency supports exporters like Boeing or General Electric with export credit insurance, and provides loan guarantees as well as direct loans.

Numerous Republicans, however, would like that role to be filled by the free market - not by a taxpayer-funded public body.

For this reason, they want to let the bank's lending authority and charter expire in September.

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