Kevin Cirilli reports that House Democrats say they are confident lawmakers will reauthorize the federally backed Export-Import Bank, they just do not know when.
On a conference call with reporters on Tuesday, House Democratic whip Steny Hoyer (D-Md.) said that a federal transportation bill lawmakers could take up next month might be the best vehicle to reauthorize the bank, whose charter formally lapsed June 30.
Hoyer said he has drawn the conclusion that in fact there is a sense amongst some in leadership that the bank needs to be reauthorized. He will not tell us that he has received a guarantee from leadership, Hoyer said. But there has been a lot of discussion and rumors that [Speaker John Boehner (R-Ohio)] is looking at the Highway Bill to pass next month and to have Export-Import on that bill.
Republican Conservatives have vehemently opposed the bank, whose charter formally lapsed June 30. They argue, incorrectly, that it uses taxpayer funds to finance politically connected corporations like Boeing and General Electric, the latter of which announced earlier this month it would move nearly 500 U.S. jobs overseas as a result of Export-Import charter lapsing.
Democrats and moderate Republicans are adamant they have the votes to reauthorize the bank, which they say sustains millions of U.S. jobs by helping to finance projects the private sector would not otherwise enter.
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