NAM, in its letter of Monday support, also said that a bank reauthorization would be especially important to smaller companies. The current bank charter expires at the end of the month.
Some conservatives believe the bank is a subsidy, and the Club for Growth and Heritage Action said Monday that it picks winners and losers in the economy.
Cantor and Hoyer’s proposal would reauthorize the bank until September 2014, and slowly raises its loan limit to $140 billion. The House proposal is similar to a reauthorization plan from the Senate Banking Committee.