|Reauthorization of the Export-Import Bank is closer now that the House of Representatives has rejected several severely constraining amendments.|
The House of Representatives this week rejected a series of proposed “poison pill” amendments to a bill that that would reauthorize funding for the Export-Import Bank (Ex-Im).
The terms are a part of a six-year surface transportation bill that includes language for Ex-Im’s funding reauthorization. Supporters of the bank staved off 10 amendments designed to put serious constraints on its operations. The Ex-Im Bank proposals were among the most contentious of 126 amendments proposed to the bill.
“We believe the Ex-Im Bank needs to be reauthorized without delay,” said IAM International President Tom Buffenbarger. “The Ex-Im Bank is the only federal institution that makes it possible for U.S. manufacturers and workers to compete fairly with global competitors.”
The Ex-Im Bank has been under siege by right-wing special interests even though it supports hundreds of thousands of U.S. manufacturing jobs by helping finance the export of American-made products.
The legislation now heads to the Senate where final passage is expected.