It looks like the U.S. Senate may vote on re-authorization of the U.S. Export-Import Bank sometime this month.
According to The Hill,
Schumer said he expects a bipartisan bill renewing the bank’s charter will reach the Senate floor before the August recess, creating pressure on House Republicans to act. The bank’s charter is set to expire Sept. 30.
“I think that if we can pass it in the Senate particularly with a good bipartisan majority … it will put pressure on the House,” he told reporters during a conference call. . . .
Democrat Sen. Joe Manchin (W.Va.) and Republican Sen. Mark Kirk (Ill.), among others, are expected to introduce legislation on the bank soon, Schumer said, and Senate Banking Committee Chairman Tim Johnson (D-S.D.) has expressed a desire to move a bill quickly through his panel.
While Democratic senators said they are happy to entertain more reforms to the bank on top of those implemented from the 2012 bill, “we don’t want it to be an excuse for them to not support Ex-Im Bank,” said Sen. Maria Cantwell (D), whose home state of Washington is home to Boeing.
“The bank now operates with a great deal of transparency,” said Cantwell, because of changes made in 2012.
She said that Rep. Denny Heck (D-Wash.), who has introduced a seven-year reauthorization in the House, has told her that there is already enough support in the House to pass a bill.
The question is, “why not let them vote and bring it up as soon as possible?” Cantwell said.
The Wall Street Journal notes,
Sen. Maria Cantwell (D., Wash.), said businesses in her state that work with the bank see reauthorization as a “no-brainer.”
“They’re flabbergasted that this could be on the chopping block,” Ms. Cantwell said in an interview.
Via the Exporters for Ex-Im Coalition, here are two stories about Washington companies that use the Export-Import Bank: Simulab Corp. in Seattle and Manhasset Specialty Company in Yakima. Also, here’s a video from the coalition about the Export-Import Bank: