House defeats destructive amendments
and sets the stage for Bank reauthorization.
The Coalition for Employment through Exports (CEE) responds to conservative attacks upon the critical role that Ex-Im Bank plays in supporting exports and U.S. jobs.
Small businesses and mid-market companies depend on Ex-Im Bank financing programs to enable them to expand, create and support more U.S. jobs.
Export Credit Agencies (ECAs) facilitate and support a country’s exports. As competitor ECAs become larger, more proactive and aggressive, U.S. companies lose out.
If the Ex-Im Bank is not reauthorized, hundreds of thousands of jobs will be lost and U.S. companies will seek more supportive business climates abroad.
The House plans on completing today its consideration and approval of a long-term Highway Bill containing the Bank reauthorization, after which it will be sent to the Senate. Since the reauthorization language approved by the House and Senate are identical, Senate passage of the reauthorization language should be straightforward, with the focus in the Senate on the House’s Highway provisions.
The Senate and House have until November 20th to work out an agreement on the pay-fors and other elements of the Highway bill. Supporters of the Bank need only to ensure that the Bank reauthorization language is included in the final bill. Since there has been overwhelming support by a super majority in each of the House and Senate for the reauthorization there should be no grounds for the reauthorization of the Bank to be dropped in House-Senate negotiations. But we will have to wait and see.
House rejects efforts to derail Export-Import Bank
The House on Wednesday night rejected efforts to derail a renewal of the Export-Import Bank, virtually assuring a new life for the agency.