Senate Resurrection of Export-Import Bank Goes to Divided House

The New York Times reports:

In a rare and fiery weekend session, the Senate voted on Sunday to resurrect the federal Export-Import Bank, handing the Republican Party’s most conservative wing a major defeat and setting up a showdown this week with House leaders divided over the moribund export credit agency.

The bipartisan vote, 67 to 26, broke a filibuster and allowed supporters to attach a measure to a three-year highway and infrastructure bill that would reauthorize the Export-Import Bank. That bill is expected to pass the Senate early this week.

The agency’s authorization expired on June 30, halting all new loan guarantees and other assistance to foreign customers seeking to purchase goods from American companies. The agency continues to service existing loans.


A clear majority in the House supports resurrecting the agency, but it will be up to House leaders to decide whether the chamber will get a vote, or whether to allow the bank’s powerful opponents — led by the House majority leader, the majority whip, the Ways and Means Committee chairman and the Financial Services Committee chairman — to stand in the way.

Rent seeking update.