WASHINGTON-The House of Representatives voted Monday night to begin debate on stalled legislation to revive the U.S. Export-Import Bank, an export-finance agency that has been closed after its charter expired in July.
Advertisement
In a statement Monday evening, U.S. Rep. Bruce Poliquin, R-Maine, said, “I will be voting yes on reauthorizing the Export-Import Bank, with much needed reforms”.
Forty-two Republicans joined 176 Democrats to support the petition that matured Monday. A bloc of 177 Republicans, including 23 Texans, voted to stymie the legislation from reaching the floor.
The Senate previously approved extending the bank as part of a highway bill the House did not take up.
The procedure forcing action on the bank, known as a discharge petition, was last successfully used in 2002 for the House version of the McCain-Feingold campaign finance reform legislation.
The Times editorial is based on admittedly inconclusive data compiled by an anti-gun group.
“Tensions are high in the Republican caucus, with Hensarling and Rules Committee Chairman Pete Sessions calling on fellow Republicans to vote against the bill in a Friday “‘Dear colleague” letter.
The agency – often referred to as the Ex-Im Bank – has done virtually no new business since July 1, when congressional leaders let the charter lapse at the request of conservative Republicans, who consider the bank “corporate welfare”. That was the last day it was allowed to operate fully.
The Chamber advocates for the re-authorization for pragmatic purposes, contending the bank has helped 600 Florida companies export goods globally during the past five years, pointing out that since 2007, the Export/Import Bank has handled $8.17 billion in global sales from Sunshine State business entities.
Still, critics describe the Export-Import Bank as legal subsidies for major corporations that put smaller exporters at a disadvantage and manipulate the economy. Though there were enough Republicans who wanted to reopen the institution then, as there are now, GOP lawmakers wouldn’t risk the appearance of bucking their leadership by signing on to a procedural gambit spearheaded by members of the minority party.
The Iron Sheik called out Martin Shkreli, the CEO of Turing Pharmaceuticals, on Twitter on Monday. They also complained that now that a vote will happen, amendments should be allowed.
Hensarling’s committee has jurisdiction over the bank. The discharge petition, Fincher said, was necessary because “the House Financial Services Committee’s refusal to negotiate this bill for more than a year has been heartbreaking”. The presiding officer eventually decided the petition could be offered at any time in the day.
The unusual parliamentary maneuver led by Tennessee Republican Stephen Fincher is a slap in the face to conservatives who have sought to kill the export credit agency and a reflection of the chaos in the House since Speaker John Boehner announced he would retire at month’s end.
Advertisement
One of the options for an increased US involvement would embed USA troops with Iraqi security forces.
