Washington U.S. Rep says Export-Import Bank must be reformed

SPOKANE, Wash. U.S. Rep. Cathy McMorris Rodgers says the Export-Import Bank must undertake serious reforms to protect taxpayers before Congress reauthorizes it this year.

The bank provides funds for the purchase of American goods by foreign buyers. It is important for thousands of jobs in trade-dependent Washington.

But the Republican from Spokane told The Spokesman-Review that some people have suggested the bank is a type of corporate welfare.

The bank has become a bone of contention for House Republicans. Its reauthorization is strongly supported by some major corporations, including the Boeing Co. But it is opposed by some limited-government conservatives and tea party supporters.

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