NEW YORK — U.S. Rep. Carolyn Maloney (D-N.Y.) on Saturday joinedbusiness owners and employees in a rally to save the Export-Import Bank from closing.
Maloney said the closure of the government-run bank, which helps businesses finance the exports of American goods made outside the country, would cost 205,000 jobs around the state and the country.
The charter for the Export-Import Bank has been renewed by Congress 15 times with little or no controversy, Maloney’s office said in a news release.
But the charter is set to expire in September, and some House Republicans have called for the bank to be closed down. They have called the bank an example of crony capitalism, according to published reports.
U.S. House Majority Leader Kevin McCarthy (R-Calif.) said last weekend that the government should not be involved in financing exports and the responsibility should be handed to the private sector, according to published reports.
Maloney said closing the bank would be extremely damaging.
“The Export Import Bank has supported more than a million private-sector American jobs since 2009, but some in Congress are refusing to extend the banks charter,” Maloney said in a news release.
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