Sen. Pat Toomey (Pa.) is urging his fellow Republican senators to let the Export-Import Bank expire.
"The Export-Import Bank is one of the most egregious forms of corporate welfare in our government, effectively allowing politically-favored companies to receive generous subsidies at the expense of other American businesses and workers," Toomey wrote to his colleagues Friday, in a letter first obtained by The Hill.
Toomey's letter came after House Financial Services Chairman Jeb Hensarling (R-Texas) met with Senate Republicans earlier this week urging them to oppose reauthorizing the bank's charter, which expires June 30.
"I second Congressman Jeb Hensarling's Wednesday Steering lunch sentiments," Toomey wrote in the letter.
Senate Majority Leader Mitch McConnell
Addison (Mitch) Mitchell McConnellSchumer points to debt incurred under Trump to highlight need for bipartisan action The Hill's 12:30 Report - Presented by Facebook - Man with machete, swastika outside DNC HQ ahead of weekend Jan. 6 rally Barrett: Supreme Court 'not comprised of a bunch of partisan hacks' MORE (R-Ky.) has said that he will have a vote on the bank, despite his own personal opposition to it. Sens. Mark Kirk
Mark Steven KirkDuckworth announces reelection bid Brave new world: Why we need a Senate Human Rights Commission Senate majority battle snags Biden Cabinet hopefuls MORE (R-Ill.) and Heidi Heitkamp
Mary (Heidi) Kathryn HeitkampProgressives prepare to launch counterattack in tax fight Business groups aim to divide Democrats on .5T spending bill On The Money: Powell signals Fed will soon cut stimulus MORE (D-N.D.) have introduced a reauthorization bill in the upper chamber.
It's unclear whether the House will vote on the issue. Republicans are divided, with lawmakers like Toomey and Hensarling agreeing with Tea Party groups in saying the bank is corporate welfare.
But other Republicans like Sens. Kirk and Lindsey Graham
Lindsey Olin GrahamNY Democrat tests positive for COVID-19 in latest House breakthrough case What's at stake — and in play — for the midterms Florida Democrat becomes latest breakthrough COVID-19 case in House MORE (S.C.) argue with Democrats that the bank helps sustain U.S. jobs.
