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The Club for Growth is taking credit for pressuring U.S. Reps. Rob Bishop and Chris Stewart to oppose the reauthorization of a little-known government bank the right wing of the Republican Party has tried to kill for years.

On Wednesday, the conservative organization announced it would launch a $1 million ad campaign against Bishop, Stewart and two House Republicans from other states for supporting the Export-Import Bank, which it describes as "a petri dish of corruption and graft." The ads were to begin Friday.

But that changed suddenly Thursday when the two Utah Republicans — Bishop through a news release, and Stewart on Facebook — said they believe the controversial bank should cease to exist. The Club for Growth is now backing down and its president, David McIntosh, says he's "proud to stand with these courageous members and the many others who oppose Ex-Im."

The Export-Import Bank offers loans for American companies that export their goods to foreign markets. Its charter will expire in June if Congress doesn't act.

House Speaker John Boehner has said thousands of jobs could evaporate if Congress doesn't reauthorize the bank. Democrats are fighting to save it, as is the U.S. Chamber of Commerce. But there's a growing effort among House Republicans to block any vote on reauthorization.

Opponents see the Export-Import Bank as unnecessary government meddling in the private sector. The Club for Growth argues that it is really money to encourage foreign governments and businesses to sign deals with U.S. firms.

Bishop said: "The government is not better than the free market in guiding the economy towards prosperity and so I'm concerned about the bank's interference in what should primarily be private business decisions and transactions."

On Facebook, Stewart said: "If we are going to tackle our nation's problems of crushing debt and over regulation, we must have the courage to make real reforms. It's time to make one such reform by ending the Export-Import Bank."

Neither congressman immediately responded to questions about whether Club for Growth's threatened ad campaign played a role in their opposition to the bank.

Utah's other two Republican House members, Reps. Jason Chaffetz and Mia Love, have previously announced their opposition to the bank's reauthorization.