Export-Import Bank revival likely won’t keep GE jobs in Waukesha

However, McConnell did say he would accept the legislation if it were attached to another piece of legislation, such as the Highway Trust Fund.

“Secretary Clinton has our grateful thanks for her unwavering support for the Ex-Im Bank”. FOE is also pushing for the Ex-Im Bank to have a high level of transparency with properly enforced regulations.

Hensarling’s effort to kill the bank meant the issue was bottled up in his committee, prompting supporters to use a very rare and arcane parliamentary maneuver to get a vote by the full House of Representatives over the objections of a few key Republican leaders.

But most Republicans and business leaders support the bank, including John Engler, the former Republican governor of Michigan and now head of the Business Roundtable.

Shelby, the chairman of the Senate Banking Committee, was just one of many Republicans who allowed the bank’s charter to expire at the end of June.

Fincher took an unusual-and rarely successful-approach to getting his bill to the House floor.

Republican Justin Amash voted no as well, slamming Ex-Im as a “corrupt wealth transfer to big business”.

Supporters appear to have the votes in the Senate to win reauthorization on the floor.

The 81-year-old Ex-Im Bank provides favourable financing to U.S. firms seeking to sell their products overseas and protects them against foreign buyer defaults.

But with majorities in both chambers of Congress-and a wide majority in the House-supporting reauthorization, pressure is likely to build for Congress to finish Ex-Im reauthorization. However, the Senate did approve a highway bill in July that included language reauthorizing Ex-Im. It was opposed by tea party conservatives and House Speaker-to-be Paul Ryan.

“This is a pretty profound debate we are having”, Ryan, R-Wis., said.

Suddenly, the 80-year-old government agency that has been a backbone of assisting American exports sees the chance for new life. According to a report from the Congressional Research Service, in the last 84 years, literally only two bills have become law by way of discharge petitions. “We do not want to speak for these communities, but want to give them a voice and we want to make sure that energy is actually getting to locals and people who need it in developing nations”.

I think they never should have tried to do what they did to Mark [Meadows], Jordan said in an interview, referring to the North Carolina Republican punished by GOP leaders earlier this year for voting against a rule. The private sector can and should do that. Lack of funding also could result in loss of market share to Airbus, which receives similar financing in Europe.