“This should at least be an indication for the Senate that the Export-Import Bank will live again as long as it is given a vote”.
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Senate passage will be hard even though a large majority in that chamber has already shown it backs the bill, said Representative Stephen Fincher, a Tennessee Republican who defied House leaders in his party and forced the vote to reauthorize the bank.
General Electric has led a campaign to restore funding for the Export-Import Bank, regularly announcing jobs it was having to move to overseas locations because it was getting export funding from other countries.
In a floor speech, Dent, whose 15th District includes Lehigh County and part of Northampton County, defended the bank as providing security to companies that seek to expand to countries with few financing options.
Supporters of the Export-Import Bank moved a critical step closer Tuesday to reviving the bank with help from all nine Republicans in the New York congressional delegation. The House voted Tuesday to re-authorize the bank, with middling bipartisan support.
The Freedom Caucus, backed by free-market advocates at the Heritage Foundation, sees that as corporate welfare.
“Hillary Clinton’s support for the Ex-Im Bank is nothing more than a political calculation”, said America Rising PAC communications director Jeff Bechdel. Between 2007 and this year, the Ex-Im Bank supported more than $130 billion in exports from 227 Washington state businesses. They pushed a vote over the opposition of top House GOP leaders such as Majority Leader Kevin McCarthy of California, Whip Steve Scalise of Louisiana and Financial Services Committee Chairman Jeb Hensarling of Texas.
“Helping our employers grow and create jobs and opportunity isn’t a partisan issue, and we should be doing everything in our power to rebuild our nation’s manufacturing base and support Illinois workers”, Duckworth said. There, Majority Leader Mitch McConnell of Kentucky has said that he will not bring a standalone bill reauthorizing Ex-Im to the Senate floor.
The measure now heads to the U.S. Senate.
Zacher said the Upstate opponents “apparently voted for ideological purity instead of the 3,100 Upstate families that rely on the bank to put food on their tables”.
“Today, we voted on a piece of legislation that hit the House Floor with limited debate and no hearing”, Emmer said. “The Export-Import Bank needed serious reforms, and this legislation achieves that by strengthening risk management, increasing small business lending requirements, enforcing greater anti-corruption safeguards”.
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Mulvaney said in an email that the bank “has done a wonderful job of misleading people”.
