House Freedom Caucus comes out against ExIm

 

The House Freedom Caucus — a coalition of about 40 mostly Tea Party House Republicans — came out against the Export-Import Bank on Wednesday.

 

The group, which does not release its official roster so members can speak more freely with each other, urged House leadership to let the bank’s charter expire June 30.

 

{mosads}”The Ex-Im Bank is the ‘bridge to nowhere’ of corporate welfare, and is a classic example of crony capitalism,” the groups said in a statement.

 

Rep. Jim Jordan (R-Ohio), chairman of the group, is chairing a hearing Thursday during which Export-Import Bank president Fred Hochberg is slated to testify.

 

Republicans are deeply divided about whether to save the bank. Tea Partiers say it’s corporate welfare. But other Republicans and Democrats argue the bank helps sustain American jobs and helps U.S. businesses make inroads overseas.

 

On Tuesday, House Majority Leader Kevin McCarthy (R-Calif.) reiterated he wants the bank to expire. House Financial Services Committee Chairman Jeb Hensarling (R-Texas) — who adamantly opposes the bank — hasn’t said whether he will move a reauthorization bill through his panel, which has jurisdiction on the issue.

 

Eleven Republicans were among thirty U.S. governors who called for the bank to be reauthorized in a letter to Congressional leadership earlier this month.