Washington – The Export-Import Bank of the United States, a target of Tea Party critics, is close to being able to make large loans again.
The bank, which issues credit guarantees to U.S. companies for exports, is a financial success that does not use taxpayer funding. It returned $675 million to the U.S. Treasury in 2014. However, an influential number of conservatives have pointed to the bank as an example of “crony capitalism” that primarily supports large companies such as Boeing and General Electric.
Lawmakers in the House of Representatives moved Tuesday to assist the bank. The House Appropriations Committee approved an amendment to a funding bill that effectively will enable the bank to approve loans of more than $10 million again.
