Monday, July 07, 2014

Senate Democrats Try to Win Big Business by Exploiting the GOP Split on the Ex-Im Bank: As talks to produce bipartisan reauthorization legislation falter, Democrats look for political gain with the business class.

The National Journal reports:

Sensing an opportunity to capitalize on a split within the GOP, Senate Democrats will vote this month to reauthorize a favorite of big business—the Export-Import Bank.

While business groups and moderate lawmakers have mounted a campaign to get the lender's charter re-upped, Republicans are under heavy pressure from conservative groups to let the bank die when its authorization expires in September.

It's a split that business-friendly Democrats are latching onto in the long-shot hope that this issue might be the one that finally turns groups like the Chamber of Commerce to the Democrats' side.

"I've said this to [chamber President] Tom Donohue and others: In many ways mainstream Democrats are closer to you than many Republicans because the tea party has pulled them so far to the right," said Sen. Chuck Schumer, D-N.Y. "They're doing what's harmful to business."
The rent-seeking of the world unite!