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U.S. House vote moves trade bank a step closer to revival
Source: Reuters
Politics | Mon Oct 26, 2015 8:48pm EDT
U.S. House vote moves trade bank a step closer to revival
WASHINGTON | BY DAVID LAWDER
The dormant U.S. Export-Import bank moved a step closer to revival on Monday as Republicans and Democrats approved a rarely successful maneuver to force a vote to renew the trade lender's charter.
The move effectively bypasses House Financial Services Committee Chairman Jeb Hensarling, who has fought to close EXIM and has blocked legislation to revive it.
EXIM, which helps finance U.S.-produced goods and services bought by foreign customers, has been unable to lend or provide loan guarantees and trade insurance for nearly four months, causing some companies to lose export deals and move jobs overseas.
[font size=1]-snip-[/font]
The House voted 246-177 in favor of the so-called "discharge petition," last used successfully in 2002. The move sets up a vote on Tuesday for passage of a bill to renew EXIM's charter through Sept. 30, 2019 with some governance reforms.
[font size=1]-snip-[/font]
U.S. House vote moves trade bank a step closer to revival
WASHINGTON | BY DAVID LAWDER
The dormant U.S. Export-Import bank moved a step closer to revival on Monday as Republicans and Democrats approved a rarely successful maneuver to force a vote to renew the trade lender's charter.
The move effectively bypasses House Financial Services Committee Chairman Jeb Hensarling, who has fought to close EXIM and has blocked legislation to revive it.
EXIM, which helps finance U.S.-produced goods and services bought by foreign customers, has been unable to lend or provide loan guarantees and trade insurance for nearly four months, causing some companies to lose export deals and move jobs overseas.
[font size=1]-snip-[/font]
The House voted 246-177 in favor of the so-called "discharge petition," last used successfully in 2002. The move sets up a vote on Tuesday for passage of a bill to renew EXIM's charter through Sept. 30, 2019 with some governance reforms.
[font size=1]-snip-[/font]
Read more: http://www.reuters.com/article/2015/10/27/us-usa-congress-exim-idUSKCN0SK2UG20151027
