Rep. Chris Collins teamed with Democrats and mainstream Republican allies Tuesday to use a rare legislative end-around to thwart conservative plans to kill a government-funded bank that helps American businesses sell their products overseas. The legislation would extend the banks authority into 2019.
Advertisement
Almost four months after Congress shut the door on the Export-Import Bank and allowed its charter to expire, 127 Republicans and 186 Democrats voted to bring the controversial agency back to life.
Republican leaders frowned upon the discharge petition.
While the Senate included an amendment to reauthorize the Export-Import Bank in a multi-year highway bill that passed over the summer, Senate Majority Leader Mitch McConnell, R-Ken., has said he won’t take up a standalone bill.
In today’s vote, a majority of Republicans on the Financial Services Committee opposed the bill.
This is the first time a discharge petition has been used to dislodge legislation in the House since 2002, when the process was used for the McCain-Feingold campaign finance reform bill.
In July, 24 senators joined with Democrats in a 67-26 vote to advance a reauthorization bill written by Sen.
One possible way forward for Ex-Im is for the reauthorization bill to be attached to another vehicle, such as legislation to renew highway funding.
The bill now heads to the Senate, where it meets an uncertain fate.
Noting that 85 other nations – including China – have such banks to support their exporting companies, Higgins said he understood why Collins bucked his party to try to save the Export-Import Bank.
“This is what’s wrong with Washington: big corporations cozy up to big government and America’s taxpayers foot the bill”, said Ohio Republican Jim Jordan.
The GOP lawmakers voting for Ex-Im were frustrated business-minded Republicans who are typically leadership allies.
“The passage of this bill marks a historic day in the House”, said Rep. Stephen Fincher, Tennessee Republican who sponsored the effort.
This is about us being competitive all around the world, Fincher said. Mr McCarthy asked on the House floor. House conservatives were blamed for McCarthy dropping out, and it energized Ex-Im supporters.
The fight against the bank has been driven by Financial Services panel chairman Jeb Hensarling, R-Texas, who said he believes it’s riddled with corruption and serves as a form of corporate welfare.
Discharge petitions are typically viewed as an act of rebellion and are rarely spearheaded by the majority party. Ryan, however, is an ardent EXIM opponent, saying in debate on Tuesday it represented “crony capitalism”.
Advertisement
“I think there are plenty of ways to expand opportunities in this country and corporate welfare isn’t one of them”, Ryan said.
