NAM and other associations press for multi-year Ex-Im reauthorization
Politico Pro (Bradner) reports that top business organizations, including the NAM, “are still lobbying congressional leaders for a long-term reauthorization” of the Ex-Im Bank “without major changes to the bank’s rules.” The business groups sent a letter to House Speaker John Boehner (R-OH), House Minority Leader Nancy Pelosi (D-CA), Senate Majority Leader Harry Reid (D-NV), and Senate Minority Leader Mitch McConnell (R-KY) on Wednesday saying, “We urge you to move swiftly on legislation that will provide a long-term reauthorization for Ex-Im Bank and ensure it effectively fulfills its principal mission to support U.S. jobs through exports.”
Lawmakers Predict Passage Of Short-Term Ex-Im Extension. Reuters (9/12, Stephenson, Becker) reports that despite increased pressure from its critics, supporters and lawmakers expect that a nine-month extension of the Export-Import Bank will be passed. House Financial Services Committee Chairman Jeb Hensarling (R-TX) argued Thursday to avoid a government shutdown and reauthorize the Bank for the short term, despite being one of its largest critics. The news was met with a mixed response from supporters of the Bank in Congress, who worry that the Bank may be harder to reauthorize when it expires in June.
Delay On Passage Of Spending Bill Not Expected To Harm Ex-Im Deal. The Business Journals (9/12) report that President Obama’s request for money to aid Syrian rebels may tie up the passage of the Ex-Im Bank extension, a vote that was expected to occur this week. Speaker John Boehner (R-OH) has not indicated that the President’s request will be tied to the government spending bill that contains the Ex-Im extension, but the House has delayed voting on the continuing resolution this week in order to decide how best to proceed.
The Hill (9/12, Cirilli) reports that a delay on the stopgap spending measure “won’t change a deal that extends the” Ex-Im Bank for nine months, according to House Republicans. Speaker Boehner indicated that the House will now vote on the spending measure to avoid a government shutdown next week.
Senate Introduces Five-Year Ex-Im Renewal Bill. The St. John Valley Times (9/12) reports that Sen. Angus King (I-ME) announced on September 10 that he has co-sponsored legislation in the Senate that will reauthorize the Ex-Im Bank charter for five years. “Not only does it support American manufacturers and help create jobs, but at the end of the day, it also returns a profit to the Treasury. Now that’s a government agency worth keeping around,” said King, based on a press release from his office. The legislation introduced by King would also increase the Bank’s funding from $140 million to $160 million over the course of the five-year charter.