House GOP to extend Export-Import Bank authority

Staff Writer
Columbus CEO

WASHINGTON (AP) — Speaker John Boehner says the House will extend the authority of the Export-Import Bank this month and it may be done as part of a government-wide funding bill that's needed to prevent a shutdown at month's end.

The Ohio Republican, back in Washington, tells reporter that even a powerful foe of the bank, Financial Services Committee Chairman Jeb Hensarling, believes a temporary extension is in order.

The bank helps finance foreign purchases of U.S. exports. The issue has sharply divided Republicans, with many conservatives favoring letting its charter expire. But it has widespread support from Democrats and traditional pro-business Republicans.

A short-term renewal of the bank's charter would give lawmakers time to try to forge consensus on whether to pass a long-term extension of the bank while overhauling its powers.