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Key Republican wants to kill US Export-Import Bank

New majority leader of the US House of Representatives, Kevin McCarthy, speaks on June 20, 2014 in Washington, DCThe next Republican majority leader in the House of Representatives said Sunday he favors 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. “One of the problems with government is they take hard-earned money so others do things that the private sector can do,” Congressman Kevin McCarthy told “Fox News Sunday.” “I think Ex-Im bank is one that government does not have to be involved in.”

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