Momentum builds for reviving Export-Import Bank
WASHINGTON (AP) — Supporters of the Export-Import Bank in Congress are on the brink of bringing it back to life. That's after votes showed sweeping support for attaching it to a popular measure funding highway programs.
The highway measure swept through the House on Thursday with a provision tacked on to reauthorize the bank.
The Export-Import Bank helps overseas buyers get financing to purchase U.S. exports. It also enjoys widespread support in the Senate, and the provision that revives it is a good bet to survive House-Senate highway bill negotiations despite opposition from top GOP leaders including House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell.
The bank's charter expired June 30, and it has been unable to approve new financing applications since then.