Conn. Democrats call on House GOP to back bank

State Capitol building in Hartford. (File)

HARTFORD, Conn. (AP) — Connecticut Democrats are pushing back against tea party Republicans who want to eliminate federal funding for a little-known banking agency that helps finance U.S. exports.

Reps. Joe Courtney and John Larson on Monday called on the Republican-led House of Representatives to pass legislation allowing the Export-Import Bank to back new loans. Its charter expires in September.

The bank is at the center of a tug-of-war in the Republican Party. Conservatives say it’s an example of corporate welfare while other Republicans say the bank promotes trade and helps create jobs.

Courtney and Larson were joined at a Capitol news conference by representatives of three Connecticut businesses that rely on the Export-Import Bank to provide insurance and credit guarantees. Without the bank, they said their insurance and other costs would skyrocket.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

WTNH NEWS8 provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review. Also, you can now block any inappropriate user by simple selecting the drop down menu on the right of any comment and selection "Block User" from there.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s