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As Export-Import Bank charter expires, backers warn of economic damage

As Export-Import Bank charter expires, backers warn of economic damage

As the charter of the Export-Import Bank was set to expire Tuesday, supporters warned of economic damage if Congress doesn't act quickly to reauthorize the federal agency when lawmakers return next week from a holiday recess. "We are undermining thousands and thousands of jobs," said Rep. Steny Hoyer (D-Md.).  "This is unilateral disarmament in the competition for jobs and sales in the world." Business groups and Democrats, who strongly back the bank, organized news conferences and calls with journalists to try to increase the pressure on House Republican leaders to allow a reauthorization vote. Even President Obama was getting personally...

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