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

June 30, 2015 7:14 PM

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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."

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