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updated: 8/19/2014 8:03 AM

Kirk pushing to reauthorize Export-Import Bank

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Associated Press

U.S. Sen. Mark Kirk continues to push for the reauthorization of the Export-Import Bank.

The Illinois Republican on Monday hosted a business roundtable in Chicago for Export-Import Bank Chairman and President Fred Hochberg. They also toured UTC Aerospace Systems in Rockford to emphasize and discuss the importance of reauthorizing the ban,

Kirk said he asked Hochberg to come to Illinois to spread word on the importance of the bank to Illinois jobs and businesses.

The bank provides loans, loan guarantees and credit insurance to overseas buyers of U.S. goods. Its charter expires in September.

Opponents contend is a taxpayer-subsidized giveaway to large companies.

Business groups have scrambled to mobilize support for agency. They argue the bank provides financing only when private-sector banks are unwilling to do so.

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